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NAT'L ENTERS., INC. v. CACCIA

252 A.D.2d 398 (1998)

675 N.Y.S.2d 350

National Enterprises, Inc., Respondent, v. Paul Caccia, Appellant

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

July 9, 1998

Had the Resolution Trust Corp. sued on the note itself instead of assigning it to plaintiff, the six-year Statute of Limitations of 12 USC § 1821 (d) (14) (A) (i) would have applied. New York law, which is applicable (see, Federal Fin. Co. v Hall, 108 F.3d 46, 50 [4th Cir], cert denied 522 U.S. 858), provides that the "[t]ransfer of an instrument vests in the transferee...

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