Progressive Credit Union v. Mount Vernon Wiping Cloth Corp.

Her Curiam.

Order, striking out defendant’s answer and granting summary judgment, reversed on the law and motion denied, with costs to appellant to abide the event.

The complaint seems to seek the recovery of the balance of a loan secured by a chattel mortgage on equipment which is now in the possession of defendant in Mount Yernon, New York. The loan was originally made to another corporation and the chattel mortgage executed by it. Since there is no proof that defendant assumed payment of the loan or that the property is beyond plaintiff’s reach, a judgment on the loan was improper. (Abramson…