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CHEM. BANK v. ALLEN

226 A.D.2d 137 (1996)

640 N.Y.S.2d 77

Chemical Bank, Appellant, v. W. C. Allen, III, Respondent

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

April 4, 1996

The negotiable promissory notes which are the subject of this action were entered into by individual investors as part of their purchase of shares in the 600 Grant Street Associates Limited Partnership and contained the following language: "In the event that this Note is transferred, assigned or pledged, Maker hereby waives, as against such transferee, assignee and pledgee, any defenses, setoffs and counter-claims of every kind...

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