Legal Opinion
Marine Midland Bank-Southern v. Thurlow
New York Court of Appeals
Decided July 7, 1981PublishedCited by 102 opinions
1Opinion of the Court
OPINION OF THE COURT
Jasen, J.
The sole question presented on this appeal is whether *385the parol evidence rule precludes the defendants from establishing that the plaintiff misapplied the proceeds of certain collateral security held by it.
On January 31, 1969, in order to obtain a $100,000 loan from the plaintiff, the defendants signed and delivered to plaintiff their notes totaling $100,000. In addition, the defendants executed a security agreement in plaintiff’s behalf whereby they pledged $100,000 of Conelec, Inc. (Conelec), convertible debentures and certain shares of stock of Scan-Data…
2Cases cited4 opinions
- Thomas v. . ScuttNew York Court of Appeals · 1891
- Fogelson v. Rackfay Construction Co.New York Court of Appeals · 1950
- Mitchill v. LathNew York Court of Appeals · 1928
- Traders' National Bank v. LaskinNew York Court of Appeals · 1924
3Cited by102 opinions
- In Re Oneida Ltd.United States Bankruptcy Court, S.D. New York · 2009
- Bank Leumi Trust Co. v. D'Evori International Inc.Appellate Division of the Supreme Court of the State of New York · 1990
- Kenston Management Co. v. Lisa Realty Co. (In Re Kenston Management Co.)United States Bankruptcy Court, E.D. New York · 1992
- E.G.L. Gem Lab Ltd. v. Gem Quality Institute, Inc.District Court, S.D. New York · 2000
- Sabal Ltd. v. Deutsche Bank AGDistrict Court, W.D. Texas · 2016
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