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EXECUTIVE LEASING CO., INC. v. LEDER

191 A.D.2d 199 (1993)

594 N.Y.S.2d 217

Executive Leasing Company, Inc., Appellant, v. Marc J. Leder, Respondent and Third-Party Plaintiff-Respondent. Frank C. Bateman, III, Third-Party Defendant-Appellant

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

March 4, 1993

Defendant and third-party plaintiff, Leder, and third-party defendant, Frank C. Bateman, borrowed $50,000 from Citibank N.A. and in return executed a demand note in favor of the bank. Thereafter, Bateman and Leder delivered the entire $50,000 to the plaintiff corporation, Executive Leasing Company, Inc. Further, Leder and Bateman, each delivered an additional $10,000 to Executive Leasing Company, Inc. The funds provided to Executive Leasing were used to purchase furniture...

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