Quail Ridge Associates v. Chemical Bank
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtMercure, J.
Appeal (transferred to this court by order of the Appellate Division, Second Department) from an order and judgment of the Supreme Court (Dickinson, J.), entered May 11, 1989 in Putnam County, which granted defendant’s motion to partially dismiss the complaint.
On September 18, 1987, plaintiff and defendant entered into an agreement whereby defendant agreed to loan plaintiff $22.3 million to finance plaintiffs acquisition and development of real property for a condominium complex located in the Town of Kent, Putnam County. In conjunction with the loan, the parties executed a building loan…
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