General Electric Credit Corp. v. Xerox Corp.

Order unanimously affirmed, with costs. Memorandum: Special Term correctly found that the nonassignment clause in the master lease agreement between William Thom & Company (Thom) and Xerox is valid but that it is merely a personal covenant by Thom not to assign its rights under the agreement without the consent of Xerox. Plaintiff, Thom’s assignee, was thus not barred from bringing this action (see, Sullivan v International Fid. Ins. Co., 96 AD2d 555). Although the agreement between Thom and Xerox was a bare lease and, without more, would not be within the scope of the Uniform Commercial Code…