Friedman v. Airlift International, Inc.

Lane, J. (dissenting).

Sylvia Friedman (Friedman) sued in her own behalf and purportedly on behalf of others similarly situated in order to recover interest due on a class of corporate debentures issuqd by the defendant, Airlift International, Inc. (Airlift). The debentures themselves will mature in 1987; however, the terms printed on the face of the debentures provide for semiannual payment of interest which payments are presently in default.

The indorsement on the face of the debenture states that interest is payable to the holder in whose name the debenture *462is registered, “ .subject to…