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  5. 187 A.D.2d 314 (1992)
 

FED. DEPOSIT INS. CORP. v. CENT. WINE & LIQUOR

187 A.D.2d 314 (1992)

Federal Deposit Insurance Corporation, as Receiver of Empire State Bank, Appellant, v. Central Wine & Liquor et al., Respondents

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

November 10, 1992

Defendant Kwan Il Lee is the owner and sole proprietor of Central Wine & Liquor. On or about December 23, 1988 Empire State Bank issued a cashier's check made out to the order of Central Wine & Liquor in the amount of $300,000. On or about that same date defendant Lee executed: (1) a promissory note agreement in favor of Empire State Bank in which he promised to repay the bank $300,000 "On Demand", (2) a continuing guarantee in which he guaranteed repayment of the...

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