Cranesville Block Co. v. Pentagon Construction Co.

Appeal from an order of the Supreme Court at Special Term, entered January 3, 1975 in Fulton County, which denied plaintiffs motion for summary judgment. On June 19, 1972, defendant Pentagon Construction Company executed a demand promissory note to the State Bank of Albany in the sum of $51,000 and said note was guaranteed for payment by defendants Bursese, Marcellino and Sager. As collateral security for the loan, plaintiff posted a certificate of deposit in the sum of $52,000 and thereafter some payments were made on the note. On July 3, 1974 and September 3, 1974, according to plaintiff,…