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  5. 66 N.Y.2d 90 (1985)
 

CITIBANK v. PLAPINGER

66 N.Y.2d 90 (1985)

Citibank, N. A., et al., Respondents, v. Allan R. Plapinger et al., Appellants.

Court of Appeals of the State of New York.

Decided October 22, 1985.

Attorney(s) appearing for the Case

Owen McGivern, George S. Leisure, Jr., Eric J. Lobenfeld and Robin Kaufman for appellants.

George J. Wade and Stanley S. Arkin for respondents.

Chief Judge WACHTLER and Judges JASEN, SIMONS, KAYE, ALEXANDER and TITONE concur.

MEYER, J.

Fraud in the inducement of a guarantee by corporate officers of the corporation's indebtedness is not a defense to an action on the guarantee when the guarantee recites that it is absolute and unconditional irrespective of any lack of validity or enforceability of the guarantee, or any other circumstance which might otherwise constitute a defense available to a guarantor in respect of the guarantee,...

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