FLEET BANK OF NEW YORK v. DOUGLAS-GUARDIAN WAREHOUSE CORP.


229 A.D.2d 962 (1996)

645 N.Y.S.2d 384

Fleet Bank of New York, Appellant, v. Douglas-Guardian Warehouse Corporation, Respondent

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

July 12, 1996


Order unanimously affirmed without costs.

Memorandum:

Plaintiff contracted with defendant in 1991 to monitor inventory owned by Sam Misita Auto Sales, Inc. (Misita), which had borrowed $1.3 million from plaintiff. Pursuant to the contract, defendant would perform monthly audits of Misita's inventory, which served as collateral on the loan, and would then report its findings to plaintiff. In November 1992 plaintiff received an anonymous tip that most, if not...

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