New Netherlands Bank v. Dernburg

Finch, J.:

Plaintiff sues on a written guaranty by defendants to pay all obligations, present, past and future, of a corporation. The com*213plaint alleges advances and loans to said corporation aggregating $13,008.27, and sets forth a particular agreement whereby, in consideration of plaintiff's accepting a draft for $10,000, there was deposited with the plaintiff by the corporation as collateral a receipt for 5,000 Kolinsky skins costing $17,085 with the right in the plaintiff to sell said collateral at public or private sale without notice or demand upon any non-performance by the corporation.

Th…