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CAPE VINCENT MILK PRODUCERS COOPERATIVE, INC. v. ST. LAWRENCE FOOD CORPORATION

43 A.D.3d 606 (2007)

842 N.Y.S.2d 594

CAPE VINCENT MILK PRODUCERS COOPERATIVE, INC., et al., Respondents, v. ST. LAWRENCE FOOD CORPORATION et al., Appellants.

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

Decided August 9, 2007.

Mugglin, J.

In a complex transaction, defendants acquired the real property and equipment that had been used by plaintiffs to manufacture cheese in the City of Ogdensburg, St. Lawrence County. As a part of the transaction, defendants executed (or guaranteed) a promissory note in the principal sum of $100,000, payable, without interest, by two $50,000 payments on specified dates. After defendants defaulted, were notified and failed to cure the default, plaintiffs commenced...

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