Legal Opinion
Executive Bank of Fort Lauderdale v. Tighe
New York Court of Appeals
Decided November 23, 1981PublishedCited by 35 opinions
1Opinion of the Court
OPINION OF THE COURT
Meyer, J.
The guarantor of a promissory note is not released by the payee bank’s failure to file a financing statement covering the collateral posted by the debtor when the note contains provisions which permit the bank to reduce or release collateral. Nor is the bank obliged, after its security interest has been invalidated in the payor’s bankruptcy proceeding, to give the guarantor notice that the intended collateral is to be sold by the trustee in bankruptcy. The judgment appealed from should be modified to grant plaintiff judgment for the full amount of the note with…
2Cases cited4 opinions
- Chase Manhattan Bank, N. A. v. NatarelliNew York Supreme Court · 1977
- Indianapolis Morris Plan Corp. v. KarlenNew York Court of Appeals · 1971
- Executive Bank of Fort Lauderdale v. TigheAppellate Division of the Supreme Court of the State of New York · 1978
- Bank v. SilverAppellate Terms of the Supreme Court of New York · 1969
3Cited by35 opinions
- Connecticut National Bank v. DouglasSupreme Court of Connecticut · 1992
- Bank of Crockett v. CullipherCourt of Appeals of Tennessee · 1988
- Bank of China v. David C.W. ChanCourt of Appeals for the Second Circuit · 1991
- Pioneer Commercial Funding Corp. v. United Airlines, Inc.District Court, S.D. New York · 1991
- First City Division of Chase Lincoln First Bank v. VitaleAppellate Division of the Supreme Court of the State of New York · 1987
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