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CITIBANK v. RICE AIRCRAFT, INC.

178 A.D.2d 118 (1991)

Citibank, N. A., Appellant, v. Rice Aircraft, Inc., Respondent

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

December 3, 1991

On July 15, 1986, the defendant Rice Aircraft, Inc., a distributor of aircraft fasteners, executed a demand note for $8,000,000 pursuant to which it agreed to pay the plaintiff bank that sum, or, the aggregate unpaid amount of all advances made under the note by the plaintiff to the defendant up to the date of demand, plus interest. The defendant executed another demand note on April 29, 1987, for $2,000,000. At the time the notes...

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