Legal Opinion
National Union Fire Insurance v. Worley
Appellate Division of the Supreme Court of the State of New York
Decided May 13, 1999PublishedCited by 2 opinions
1Opinion of the Court
OPINION OF THE COURT
Nardelli, J. P.
Defendant, a Texas resident, purchased an interest in a Texas limited partnership known as Virgin Isle Hotel Limited Partnership (Partnership). She paid $2,750 in cash and executed and delivered to the Partnership a promissory note for $47,250, which provided for six annual payments of principal and interest.
*230Plaintiff, National Union Fire Insurance Company (National Union), issued a financial guarantee bond whereby payment of the limited partners’ notes was guaranteed by plaintiff. However, as a condition of the issuance of this bond, each limited partner…
2Cases cited15 opinions
- Channel Master Corp. v. Aluminium Limited Sales, Inc.New York Court of Appeals · 1958
- Credit Francais International, S. A. v. Sociedad Financiera de Comercio, C. A.New York Supreme Court · 1985
- McMahan & Co. v. Donaldson, Lufkin & Jenrette Securities Corp.District Court, S.D. New York · 1989
- Corines v. DobsonAppellate Division of the Supreme Court of the State of New York · 1987
- National Union Fire Insurance v. WilliamsAppellate Division of the Supreme Court of the State of New York · 1996
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3Cited by2 opinions
- New York Telephone Co. v. Public Service CommissionNew York Court of Appeals · 2000
- Mtr. of Ny Tel. Co. v. PscNew York Court of Appeals · 2000