LIBERTY MUT. INS. CO. v. ABBOTT


107 A.D.2d 962 (1985)

Liberty Mutual Insurance Company, Appellant, v. Edward W. Abbott, Jr., Respondent

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

January 24, 1985


In August, 1979, defendant was employed by plaintiff and was to be transferred from South Bend, Indiana, to Dallas, Texas. To enable defendant to meet increased housing expenses due to the transfer, plaintiff loaned defendant $7,500 and defendant agreed, "If my employment by [plaintiff] is terminated for any reason, the loan becomes due and the outstanding balance payable in full." In about August, 1980, defendant terminated his employment with plaintiff after plaintiff failed...

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