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K.P. ASSOCS. v. D'AGOSTINO

201 A.D.2d 537 (1994)

607 N.Y.S.2d 723

K.P. Associates, Respondent, v. Michael D'Agostino et al., Appellants, et al., Defendants

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

February 14, 1994

Ordered that the order is reversed, on the law, with costs, and the plaintiff's motion is denied.

On July 17, 1986, the defendant M.J.S. D'Agostino & Co., Inc., a corporation, took a $50,000 loan from the plaintiff at 20% interest. The loan was guaranteed by the appellants Nicholas D'Agostino and Michael D'Agostino, and secured by a mortgage on the home of Michael D'Agostino. The loan proceeds were distributed as follows: $755 to Ticor Title Guarantee, $850 to...

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