Executive Bank of Fort Lauderdale v. Tighe
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Hopkins, J. P.
The plaintiff has recovered a judgment against the defendants on two promissory notes indorsed by them and delivered to the plaintiff. The fundamental issue raised by this appeal is whether the plaintiff’s failure to perfect its security interest in certain inventory and equipment of the maker of the notes discharges pro tanto the defendants as accommodation parties.
Trial Term answered the question in the negative, holding that the defendants’ claim of impairment of recourse (Uniform Commercial Code, § 3-606) was insufficient as a matter of law. We disagree.…
2Cases cited17 opinions
- Peoples Bank of Point Pleasant v. Pied Piper Retreat, Inc.West Virginia Supreme Court · 1974
- Grace v. Sterling, Grace & Co.Appellate Division of the Supreme Court of the State of New York · 1968
- Indianapolis Morris Plan Corp. v. KarlenNew York Court of Appeals · 1971
- Shutts v. . FingarNew York Court of Appeals · 1885
- Egan v. Kollsman Instrument Corp.New York Court of Appeals · 1967
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3Cited by25 opinions
- Executive Bank of Fort Lauderdale v. TigheNew York Court of Appeals · 1981
- Federal Deposit Insurance v. ForteAppellate Division of the Supreme Court of the State of New York · 1983
- Marine Midland Bank v. CMR Industries, Inc.Appellate Division of the Supreme Court of the State of New York · 1990
- Federal Deposit Insurance v. Frank L. Marino Corp.Appellate Division of the Supreme Court of the State of New York · 1980
- Leslie Fay, Inc. v. RichDistrict Court, S.D. New York · 1979
20 more not listed; retrieve them via the Exa API.