Chemical Bank New York Trust Co. v. Liebman

Plaintiff-appellant is a New York corporation. The defendants were either officers, directors or active in the management and operations of the business of three affiliated corporations.

On or about January 2, 1968 two of the corporations entered into factoring agreements with L. F. Dommerich & Co. Inc., the predecessor in interest to the plaintiff. The third corporation entered into a factoring agreement directly with the plaintiff on or about October 10, 1968.

When the factoring agreements were entered into, the defendants duly executed and delivered their respective joint and several…