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STATE OF NEW YORK v. PEERLESS INS. CO.

67 N.Y.2d 845 (1986)

State of New York, Respondent, v. Peerless Insurance Company, Appellant.

Court of Appeals of the State of New York.

Decided March 25, 1986.

Attorney(s) appearing for the Case

Frank L. Amoroso, David P. Franks, Gerald M. Smith, Arnold A. Secunda and Robert Nizewitz for appellant.

Robert Abrams, Attorney-General (August L. Fietkau, Richard G. Liskov and Robert Hermann of counsel), for respondent.

Chief Judge WACHTLER and Judges MEYER, SIMONS, KAYE, ALEXANDER, TITONE and HANCOCK, JR., concur.

MEMORANDUM.

The order of the Appellate Division should be affirmed, with costs.

It has long been settled in this State that absent either an express agreement in the surety bond or inquiry by the surety, a creditor has no duty to keep the surety informed of the debtor's financial situation (Bostwick v Van Voorhis, 91 N.Y. 353, 360-362; Howe Sewing Mach. Co. v Farrington...

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