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FACTORY POINT NAT'L BANK v. WOODEN INDIAN, INC.

198 A.D.2d 563 (1993)

603 N.Y.S.2d 216

Factory Point National Bank, Respondent, v. Wooden Indian, Inc., Defendant, and Malka Shalit et al., Appellants

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

November 4, 1993

Yesawich Jr., J. P.

Plaintiff loaned money to defendant Wooden Indian, Inc. for the purchase of a forklift, and in return was granted a security interest therein. Subsequently, Wooden Indian and defendants Shimon Shalit and Malka Shalit entered into an agreement to construct a shopping center in the Town of Queensbury, Warren County. Several months into the construction, Wooden Indian encountered financial difficulties and withdrew from the project, leaving...

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