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MARINE MIDLAND BANK v. NORTHEAST KAWASAKI, INC.

92 A.D.2d 952 (1983)

Marine Midland Bank, N. A., Respondent, v. Northeast Kawasaki, Inc., et al., Defendants, and George E. Coon, Inc., et al., Appellants

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

March 3, 1983

Plaintiff Marine Midland Bank, N. A. (Marine Midland) took a mortgage secured by a note in the sum of $45,000 from defendant Northeast Kawasaki, Inc. (Kawasaki), in March of 1973. In December, 1977, Kawasaki entered into a lease with defendant George E. Coon, Inc. (Coon), which gave Coon an option to buy. In January of 1979, Coon exercised its option to purchase Kawasaki's property and Marine Midland, on January 12, 1979, issued a commitment letter approving a request by...

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