Arcan Transportation, Inc. v. Marine Midland Bank-Western

Order unanimously reversed, with costs, and defendant’s motion for judgment granted. Memorandum: This action was brought by plaintiffs to recover damages caused by defendant’s alleged breach of an oral working capital agreement and its failure pursuant to such agreement to give plaintiffs extensions on certain monetary obligations. In its answer defendant raised four affirmative defenses which were that the claimed agreement violated the Statute of Frauds, that the claimed agreement was unenforceable due to indefiniteness, collateral estoppel and failure to meet conditions precedent.…