Marine Midland Bank, N. A. v. Bob Daubney Bowling Enterprises Inc.

Order unanimously reversed on the law without costs and plaintiff’s motion granted. Memorandum: In December 1981 the bank extended a loan to Cardoray Corporation which was guaranteed by defendant Morris Cramer. The guarantee was unconditional, absolute and continuing in nature and covered not only the 1981 indebtedness but any subsequent indebtedness of the corporation to the bank. Pursuant to its terms, the guarantee could not be changed by oral agreement and any modification, to be effective, was to be in writing signed by a duly authorized officer of the bank. Termination of the guarantee…