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TONG v. HANG SENG BANK, LTD.

210 A.D.2d 99 (1994)

620 N.Y.S.2d 42

Tak Shing David Tong Individually and as a Shareholder of Lee & T Fashion, Inc., on Behalf of Himself and Others Similarly Situated, et al., Appellants, v. Hang Seng Bank, Ltd., Respondent

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

December 13, 1994

Individual plaintiff Tong and his partner Carie Lee organized the plaintiff corporation Lee & T Fashion, Inc. (Lee & T). Tong loaned the corporation about $20,000 which was deposited in defendant Hang Seng Bank. The corporation provided the bank with a copy of its corporate banking resolution which authorized access to the corporate account only upon presentation of the signatures of both the President, Carie Lee, and the Vice-President, Tong. Thereafter, Carie Lee...

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