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RICHTER v. ZABINSKY

257 A.D.2d 397 (1999)

683 N.Y.S.2d 65

MICHAEL RICHTER, Respondent, v. RONALD J. ZABINSKY, Appellant.

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

Decided January 7, 1999.

This action arises from defendant's suspension of payments on a $200,000 promissory note signed by him in connection with his purchase of one-half of plaintiff's business. The credible evidence demonstrates that after the note was signed, business began to decline, placing in jeopardy a $966,000 outstanding line of credit with European American Bank. The lender required an infusion of $200,000 into the business as an assurance...

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