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PEOPLES WESTCHESTER SAV. BANK v. EMPIRE OF AM. REALTY CREDIT CORP.

183 A.D.2d 880 (1992)

Peoples Westchester Savings Bank, Appellant, v. Empire of America Realty Credit Corp., Respondent

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

May 26, 1992

Ordered that the order is affirmed insofar as appealed from, with costs.

The plaintiff, a New York savings bank, claims to have sent five promissory notes and a cover letter via overnight delivery service to the defendant, a dealer in promissory notes and mortgages on the secondary market. According to the terms of the cover letter, the defendant was given the option of purchasing the notes at quoted prices. The defendant could hold the notes as the plaintiff's agent...

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