BANK OF BABYLON v. ZAFFUTO CONSTR. CO., INC.


157 A.D.2d 640 (1990)

Bank of Babylon, Respondent, v. Zaffuto Construction Co., Inc., Appellant

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

January 8, 1990


Ordered that the judgment is affirmed, with costs.

In order to assist one of its subcontractors in making payments to its employees, materialmen and suppliers, the defendant gave the subcontractor a promissory note in the sum of $90,571. The subcontractor subsequently presented the note to the plaintiff, to which it was indebted, and the plaintiff credited the subcontractor's account with the discounted value of the note. However, when the plaintiff presented the...

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