Harris v. Metropolitan Casualty Insurance

The plaintiff moves for summary judgment in three actions each one of which is based upon a written guaranty of payment made by the defendant of participating bonds secured by mortgages on real estate situate outside of the State of New York. The defendant makes three cross-motions for summary judgment dismissing the plaintiff’s complaint in each instance. The answer of the defendant sets up three separate defenses as follows:

1. That under section 1083-b of the Civil Practice Act the defendant desires to set off the fair and reasonable market value of the mortgaged property less the amounts…