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ISRAEL BANK v. ROSEN

59 N.Y.2d 428 (1983)

Israel Discount Bank Limited, Respondent, v. Efraim Rosen et al., Appellants. Israel Discount Bank Limited, Respondent, v. Bernard Rappaport et al., Appellants.

Court of Appeals of the State of New York.

Decided June 30, 1983.

Attorney(s) appearing for the Case

Donald A. Derfner, Kevin L. Smith and John H. Beers for Efraim Rosen, appellant.

Robert J. Kaplan for Leo Siegman and another, appellants.

Jacob Imberman and John Woodward for respondent.

Chief Judge COOKE and Judges JONES, WACHTLER, MEYER and SIMONS concur.

JASEN, J.

On these appeals, we are asked to decide whether summary judgment was properly granted to plaintiff bank as a holder in due course of certain promissory notes.

Plaintiff is a bank which operates out of the Diamond Exchange in Ramat-Gan, Israel. Defendants are diamond merchants who have in the past engaged in numerous transactions involving the purchase and sale of diamonds. Rappaport and Fishman...

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