Intra-State Investors Corp. v. New York Trust Co.

This appeal brings up for review the dismissal of a complaint at Special Term in an action wherein appellant sought an accounting. We have reached the conclusion, based upon the *593proofs submitted, that the court should have directed the entry of a judgment compelling the respondent to account.

There is very little dispute in the main as to the facts. The respondent was the owner of a bond and mortgage in the sum of $70,000. It sold to the appellant a $10,000 junior interest on November 21, 1927. A participation agreement in which the rights of the parties were set forth was entered into on that…