Tradition North America, Inc. v. Sweeney

I would reverse and grant summary judgment. Plaintiff, Tradition North America, Inc., appeals from the denial of its motion for summary judgment in lieu of complaint (CPLR 3213) on six promissory notes executed by defendant Timothy Sweeney, on which a balance is due of nearly $80,000 in principal plus accrued interest.

On September 10, 1984, Tradition hired Sweeney as a currency broker at an annual salary of $100,000. During his employment Sweeney borrowed a total of $103,000 from Tradition, in consideration for which he executed six promissory notes, each providing for the unconditional…