Leonard Smith, Inc. v. Merrill Lynch, Pierce, Fenner & Smith

Appeal from an order of the Supreme Court at Special Term (Hughes, J.), entered February 23, 1984 in Albany County, which granted defendant Merrill Lynch, Pierce, Fenner and Smith’s motion for summary judgment dismissing the complaint.

Lawrence Smith, as trustee of plaintiff corporate employee benefit plan and trust (plaintiff), established an investment account with defendant, Merrill Lynch, Pierce, Fenner and Smith (Merrill Lynch) in December, 1980. On March 23, 1981, Smith contacted Merrill Lynch to arrange the transfer of $200,000 from the account to Guardian Life Insurance Company…