Key Appliance, Inc. v. National Bank of North America
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Fein, J.
Plaintiff, Key Appliance, Inc. (Key), whose sole stockholders are retailers in the discount appliance business, is a buying cooperative for retail stores. Key’s sole business is the purchase of appliances which it resells to retailers as a means of sharing the benefits of mass buying power, carload shipments, volume rebates and joint advertising allowances. For many years plaintiff maintained its principal bank accounts with defendant National Bank of North America (bank), and its predecessor Trade Bank and Trust Company. Several of Key’s suppliers gave special…
2Cases cited8 opinions
- Federal Insurance v. Groveland State BankNew York Court of Appeals · 1975
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- Arrow Builders Supply Corp. v. Royal National Bank of New YorkNew York Court of Appeals · 1968
- Matteawan Manufacturing Co. v. Chemical Bank & Trust Co.Appellate Division of the Supreme Court of the State of New York · 1935
- Screenland Magazine, Inc. v. National City BankNew York Supreme Court · 1943
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