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NAT'L WESTMINSTER BANK USA v. VANNIER GROUP

160 A.D.2d 348 (1990)

National Westminster Bank USA, Appellant, v. Vannier Group et al., Respondents

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

April 12, 1990

Plaintiff bank financed defendants' business chiefly through a credit device known as bankers acceptances. When several of these were not timely paid, a series of demand promissory notes was substituted therefor, and plaintiff continued to provide defendants with credit. Approximately six months later, on August 9, 1988, plaintiff, in writing, offered to continue the line of credit and to forego payment on the promissory notes...

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