56 EAST 87TH UNITS CORP. v. KINGSLAND GROUP, INC.


30 A.D.3d 1134 (2006)

815 N.Y.S.2d 576

56 EAST 87TH UNITS CORP., Respondent, v. KINGSLAND GROUP, INC., et al., Appellants, et al., Defendants. (And Another Action.)

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

June 6, 2006.


Plaintiff's president lacked authority to enter into the instant loan transaction with the Kingsland and lenders defendants on plaintiff's behalf. The bylaws, and plaintiff's own past practice, make it clear that the president required board authorization to enter into such transactions. There was no such authorization for this transaction. Nor was the president cloaked in apparent authority. It is axiomatic that apparent authority...

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