National Union Fire Insurance Co. of Pittsburgh v. Robert Christopher Associates
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Rubin, J.
An entity that extends credit to finance a business venture, especially one that merely provides a bond to guarantee performance of a party’s contractual obligation, is not, by implication, a party to the underlying transaction and does not, without more, subject itself to claims or defenses otherwise available against a principal.
Plaintiff, which furnished a financial performance bond to defendants, investors in a real estate limited partnership, is not subject to the defense that the investors were fraudulently induced by the sponsor to purchase interests in the…
2Cases cited31 opinions
- Rovello v. Orofino Realty Co.New York Court of Appeals · 1976
- Danann Realty Corp. v. HarrisNew York Court of Appeals · 1959
- Citibank, N. A. v. PlapingerNew York Court of Appeals · 1985
- Rudman v. Cowles Communications, Inc.New York Court of Appeals · 1972
- Arrington v. New York Times Co.New York Court of Appeals · 1982
26 more not listed; retrieve them via the Exa API.
3Cited by22 opinions
- Laub v. FaesselAppellate Division of the Supreme Court of the State of New York · 2002
- Friedman v. AndersonAppellate Division of the Supreme Court of the State of New York · 2005
- Abernathy-Thomas Engineering Co. v. Pall Corp.District Court, E.D. New York · 2000
- American Home Assurance Co. v. Gemma Construction Co.Appellate Division of the Supreme Court of the State of New York · 2000
- Rivietz v. WolohojianAppellate Division of the Supreme Court of the State of New York · 2007
17 more not listed; retrieve them via the Exa API.