Manufacturers & Traders Trust Co. v. Sullivan

Order and judgment unanimously reversed on the law without costs and motion denied. Memorandum: We reject the contentions of defendants Ferraro, McNally and O’Connell that factual issues exist whether plaintiff Bank fraudulently induced their execution of personal guaranties and whether the Bank failed to protect and preserve certain collateral. Each guaranty expressly provides that the guarantor’s obligations are independent of any duty plaintiff may have to protect or preserve collateral, and defendants failed to allege or show that plaintiff made the alleged misrepresentations with an…