Bechard v. Monty's Bay Recreation, Inc.

Appeal from an order of the Supreme Court (Muller, J.), entered January 8, 2014 in Clinton County, which, among other things, granted defendant’s cross motion to dismiss the action.

Defendant issued promissory notes to plaintiff in 1990 and 1991 in the amounts of $3,000 and $10,000, respectively, each payable in one year.* When defendant then issued a note to Key Bank for $330,000 in 1992 (hereinafter the 1992 note), plaintiff executed a standby agreement whereby he agreed to forgo enforcement of his notes until “payment in full of the indebtedness evidenced by the [1992 note].” In 2005,…