People v. Consolidated Indemnity & Insurance

The defendant has appealed from an order denying its motion, made under rule 106 of the Rules of Civil Practice, for judgment dismissing the complaint upon the ground that it does not state facts sufficient to constitute a cause of action. The complaint alleges in substance a credit balance to the State of New York of $1,000,000 on deposit with the Bank of United States, a New York State banking corporation, when the bank closed its doors; a guaranty of payment by the defendant to the amount of $600,000; a demand upon the bank for and a refusal to pay the amount of the deposit; a demand upon…