Chelsea National Bank v. Lincoln Plaza Towers Associates

OPINION OF THE COURT

Memorandum.

The order of the Appellate Division should be affirmed, with costs.

The Appellate Division correctly concluded that defendant’s motion to dismiss at the end of the trial should have *819been granted. Although it is true, as plaintiff argues, that the 1973 guarantee by the partnership of the loan to Lincoln Plaza, Inc., was a continuing guarantee, the partnership agreement did not give the general partners authority to guarantee the debts of others nor did Greenfield have authority in the first instance to act alone without seeking the consent of LPT Inc., the…