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INTERCONTINENTAL CREDIT CORP. DIV. OF PAN AM. TRADE DEV. CORP. v. ROTH

169 A.D.2d 635 (1991)

Intercontinental Credit Corporation Division of Pan American Trade Development Corp., Respondent, v. Henry A. Roth, Appellant

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

January 29, 1991

In July 1984, defendant, the sole owner of record of Universal Petroleum Products, Inc., executed in favor of plaintiff unconditional guarantees of the indebtedness of Universal Oil Distributors, Inc. and Universal Petroleum Products, Inc. In September 1987, defendant executed similar unconditional guarantees in connection with loans made to three other corporations, whose proceeds were used to reduce the original debt. Defendant...

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