Canterbury Realty & Equipment Corp. v. Poughkeepsie Savings Bank
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Levine, J.
The instant litigation arises out of a loan transaction between plaintiff Canterbury Realty and Equipment Corporation (hereinafter Canterbury) and defendant Poughkeepsie Savings Bank (hereinafter the Bank) entered into February 9, 1983, through which the Bank provided the financing for Canterbury’s acquisition of a food service business. Among the financing instruments, Canterbury and the Bank entered into a revolving credit agreement giving Canterbury a credit line of $2,000,000, against which it could draw checks to pay its operating expenses in the new…
2Cases cited12 opinions
- Rose v. Spa Realty AssociatesNew York Court of Appeals · 1977
- Citibank, N. A. v. PlapingerNew York Court of Appeals · 1985
- Abrams v. DonatiNew York Court of Appeals · 1985
- Braten v. Bankers Trust Co.New York Court of Appeals · 1983
- Kooleraire Service & Installation Corp. v. Board of EducationNew York Court of Appeals · 1971
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