Legal Opinion
Lindenbaum v. Albany Post Property Associates, Inc.
Appellate Division of the Supreme Court of the State of New York
Decided September 16, 2002PublishedCited by 4 opinions
1Opinion of the Court
*662Contrary to the plaintiff’s contention, the Supreme Court properly canceled and discharged the 1990 note and mortgage executed by Steven Shaw, the then-president of the defendant Annsville Properties, Ltd. (hereafter Annsville). The evidence adduced at trial established that the subject note and mortgage represented a gratuitous guarantee by Annsville of Steven Shaw’s personal debt, a transaction which was not part of Annsville’s ordinary course of business (see Collision Plan Unlimited v Bankers Trust Co., 63 NY2d 827, 830-831). Consequently, the transaction required the consent of two…
2Cases cited9 opinions
- Hallock v. StateNew York Court of Appeals · 1984
- Skyline Agency, Inc. v. Ambrose Coppotelli, Inc.Appellate Division of the Supreme Court of the State of New York · 1986
- Collision Plan Unlimited, Inc. v. Bankers Trust Co.New York Court of Appeals · 1984
- Ben-Reuven v. Kidder, Peabody & Co.Appellate Division of the Supreme Court of the State of New York · 1997
- Morgold, Inc. v. ACA Galleries, Inc.Appellate Division of the Supreme Court of the State of New York · 2001
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3Cited by4 opinions
- 150 Beach 120th Street, Inc. v. Washington Brooklyn Ltd. PartnershipAppellate Division of the Supreme Court of the State of New York · 2007
- Beizer v. BunsisAppellate Division of the Supreme Court of the State of New York · 2007
- Shefa Trading III, LLC v. E.N.Y. Plaza, LLCAppellate Division of the Supreme Court of the State of New York · 2021
- BP3 Capital, LLC v. 5120 Realty Corp.Appellate Division of the Supreme Court of the State of New York · 2026