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TRADING CO. v. FREIDUS

114 A.D.2d 292 (1986)

Commercial Trading Company, Inc., Appellant, v. Jacob Freidus et al., Respondents

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

February 25, 1986

Attorney(s) appearing for the Case

David O. Wright of counsel (Edward A. Friedman with him on the brief; Stein, Zauderer, Ellenhorn, Friedman & Kaplan, attorneys), for appellant.

Kenneth G. Schwarz of counsel (Fischbein Olivieri Rozenholc & Badillo, attorneys), for Jacob Freidus, respondent.

Stuart A. Summit of counsel (William A. Alper with him on the brief; Burns Summit Rovins & Feldesman, attorneys), for Ella Freidus, respondent.

SULLIVAN, ROSS and FEIN, JJ., concur with MILONAS, J.; KUPFERMAN, J. P., dissents in part and would affirm for the reasons stated by Nicholas Clemente, J., at Trial Term.

MILONAS, J.

The evidence at trial was undisputed that plaintiff Commercial Trading Company, Inc., extended a series of loans to defendants' corporation, 601 West 26th Corporation (601 Corp.), including loan No. 9 in the sum of $200,000 which was evidenced by some 200 promissory notes. Defendants Jacob and Ella Freidus, officers of 601 Corp., executed personal guarantees for loan No. 9. In addition, Jacob Freidus...

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