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MARINE MIDLAND v. CMR INDUS.

159 A.D.2d 94 (1990)

Marine Midland Bank, Appellant, v. CMR Industries, Inc., et al., Respondents

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

July 18, 1990

Attorney(s) appearing for the Case

Hayt, Hayt & Landau (Aaron R. Cahn of counsel), for appellant.

Pinks, Brooks, Stern, Rubin & Arbeit (Steven G. Pinks of counsel), for respondents.

RUBIN, J. P., ROSENBLATT and MILLER, JJ., concur.

BALLETTA, J.

In the instant case, the individual defendants executed guarantees for the payments of loans made to the corporate defendant, which agreements contained language purportedly waiving all rights that they may have had with respect to the collateral securing the loans. We take this opportunity to clarify the rule in this Department that where a transaction...

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