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MARINE MIDLAND BANK v. WALTER PERLSTEIN, INC.

175 A.D.2d 523 (1991)

Marine Midland Bank, N.A., Appellant, v. Walter Perlstein, Inc., et al., Respondents, et al., Defendant

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

July 25, 1991

Yesawich Jr., J.

In 1980, plaintiff extended an unsecured open line of credit in the sum of $750,000 to defendant Walter Perlstein, Inc. (hereinafter WPI), a general construction contractor. This line of credit was increased in November 1981 to $1,000,000; at the time, defendants H. Davis Burritt, Leon Perlstein, Alan August and Murray P. Walter1 each signed unconditional personal guaranties of payment.

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