USI CAPITAL & LEASING v. CHERTOCK


172 A.D.2d 235 (1991)

USI Capital and Leasing, a Division of USI Credit Corp., Appellant-Respondent, v. Sidney Chertock, Respondent-Appellant, et al., Defendants

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

April 9, 1991


In 1978, Chertock invested $15,000 in and guaranteed various obligations of Hazardous Waste Disposal Corp. in return for 50% of the profits. Hazardous, which eventually went bankrupt in 1983, subsequently entered into three forklift-truck lease agreements with plaintiff's assignor, one on August 17, 1979 and two on December 5, 1980. Also on August 17, 1979, Chertock executed a continuing guaranty of Hazardous's obligations to plaintiff...

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