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MARINE MIDLAND BANK v. HAKIM

247 A.D.2d 345 (1998)

669 N.Y.S.2d 212

Marine Midland Bank, Respondent, v. Fereidoun Hakim et al., Appellants, et al., Defendants

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

February 26, 1998

Plaintiff's decision to sue on the note while retaining the collateral was within its rights under UCC 9-501 (1) and was commercially reasonable (see, First Intl. Bank v Blankstein & Son, 59 N.Y.2d 436, 447; Chemical Bank v Alco Gems Corp., 151 A.D.2d 366, 368).

Defendants have presented no evidence suggesting either negligence by plaintiff in the preservation of the collateral...

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