Leghorn v. Ross

Order of the Supreme Court, New York County, entered on January 31, 1975, judgment entered thereon on February 3, 1975, and order entered on March 17, 1976, unanimously affirmed, without costs and without disbursements. The plaintiff seeks indemnification for sums paid by him as a guarantor of the defendant’s promissory notes issued by the defendant to finance a stock purchase. There is no dispute as to the defendant’s default in payment of the notes, or with respect to the fact that the plaintiff was called upon to honor the guarantee agreement. However, defendant asserts that as between the…