Kessel Brent Corp. v. Albany Savings Bank

Supreme Court erred in denying defendant’s motion for summary judgment dismissing the complaint. Plaintiff admits that its choice of primary insurer did not meet defendant’s insurance requirement. Defendant was entitled to insist on strict compliance with the insurance requirement (see, Noble v Higgins, 214 App Div 135, affd 243 NY 538) and was justified in refusing to close the loan based upon plaintiffs failure to satisfy that requirement (see, Tayeh v Intercoastal Capital Corp., 176 AD2d 719). In view of our holding, it is unnecessary to decide whether defendant’s refusal to make the loan…