Merchants National Bank of Plattsburgh v. R. Prescott & Son, Inc.

The decisions of the appellate courts in this action (225 App. Div. 612; affd., 253 N. Y. 517) left for trial only two questions: Did Levy agree to be obligated on the notes as maker, rather than as indorser, as indicated on the notes, and, if so, did the plaintiff have knowledge thereof?

In December, 1924, officers of the Thermiodyne Radio Corporation, including John Guibord and Levy, had a conversation with officers of the defendant looking toward the formation of a new corporation for the purpose of taking over the defendant's physical properties and manufacturing radio cabinets for the…