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FIRST INT'L BANK OF ISRAEL, LTD. v. L. BLANKSTEIN & SON, INC.

88 A.D.2d 501 (1982)

First International Bank of Israel, Ltd., Appellant, v. L. Blankstein & Son, Inc., et al., Respondents First International Bank of Israel, Ltd., Appellant, v. Jacob Klein & Son, Inc., et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

May 4, 1982

From 1976 on, plaintiff bank lent money to diamond merchant Siegman on the credit of his accounts receivable, which often took the form of promissory notes made payable to Siegman by other diamond merchants to whom he had sold gems. One such note had been issued to Siegman in the principal sum of $50,000 by L. Blankstein & Son, Inc. Another note had been issued to Siegman in the sum of $71,550 by Jacob Klein & Son, Inc.* Siegman in turn...

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