Sterling Factors Corp. v. Freeman

In consolidated actions by a corporate factor against guarantors of a corporate indebtedness on their guaranties and to foreclose a mortgage given by them as collateral security, plaintiff appeals from a judgment of the Supreme Court, Nassau County, dated July 13,1966, in favor of respondents and dismissing the complaints, after a nonjury trial. Judgment affirmed, with costs. In our opinion, the auction sale of March 1, 1963 and plaintiff’s conduct thereafter were an effective repudiation of the agreement of February 28, 1963. Since plaintiff prevented performance under that contract, it…