Merchants National Bank & Trust Co. of Syracuse v. Syracuse Eagles Hockey Club Corp.

Order and judgment unanimously affirmed, with costs, on the opinion at Special Term, Hancock, J., and the following memorandum: We affirm Special Term but note that appellants’ fraud in the inducement defense must be rejected as a matter of law because they have failed to allege justifiable reliance on the bank’s alleged misrepresentation. The improbability of reliance upon the claimed misrepresentation is insufficient standing alone to provide a basis to grant plaintiff’s motion for summary judgment (Millerton Agway Corp. v Briarcliff Farms, 17 NY2d 57; Plastoid Cable Corp. of Amer v TFI…