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J.K. FUNDING, INC. v. DECARA ENTERS., LTD.

235 A.D.2d 785 (1997)

652 N.Y.S.2d 393

J.K. Funding, Inc., Doing Business as Rols Capital Company, Appellant-Respondent, v. Decara Enterprises, Ltd., et al., Respondents-Appellants

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

January 16, 1997

Peters, J.

This action stems from an alleged default on a promissory note in the amount of $80,000 executed on February 5, 1990 by defendant Decara Enterprises, Ltd. in favor of Rols Capital Company. To secure payments due thereunder, defendant Gus Paxos executed a personal guarantee together with a mortgage securing the note.

Payments under the note were made by Decara until June 1991, when Rols filed...

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