COUNCIL COMMERCE CORP. v. SCHWARTZ, SACHS & KAMHI


144 A.D.2d 422 (1988)

Council Commerce Corporation, Appellant, v. Schwartz, Sachs & Kamhi, P. C., et al., Respondents. (And a Third-Party Action.)

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

November 14, 1988


Ordered that the order and judgment is affirmed insofar as appealed from, with costs.

The plaintiff entered into a loan agreement pursuant to which the plaintiff loaned $80,000 to the defendants' clients. The loan was secured by the assignment by the clients to the plaintiff of a leasehold interest. According to the terms of the commitment letter, the loan transaction had to be authorized by an order of the United States...

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