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MARINE MIDLAND v. THURLOW

53 N.Y.2d 381 (1981)

Marine Midland Bank-Southern, Appellant, v. Bradbury K. Thurlow et al., Respondents.

Court of Appeals of the State of New York.

Decided July 7, 1981.

Attorney(s) appearing for the Case

Richard Denton and Edward B. Hoffman for appellant.

James L. Burke for respondents.

Judges JONES, FUCHSBERG and MEYER concur with Judge JASEN; Chief Judge COOKE dissents and votes to affirm in a separate opinion in which Judges GABRIELLI and WACHTLER concur.

JASEN, J.

The sole question presented on this appeal is whether the parol evidence rule precludes the defendants from establishing that the plaintiff misapplied the proceeds of certain collateral security held by it.

On January 31, 1969, in order to obtain a $100,000 loan from the plaintiff, the defendants signed and delivered to plaintiff their notes totaling...

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