Costanzo v. Marine Midland Realty Credit Corp.

OPINION

Appellant Frank Costanzo appeals from a judgment against him on a note he guaranteed. We affirm the judgment as to his liability but reverse and remand for further findings on the amount of the award.

In January 1975, Costanzo guaranteed a $2.3 million loan made previously to James and Phyllis Temple and Jerome Appleby (the Temples). Costanzo was a shareholder in the Temples’ corporation, Temple Village, Inc. Costanzo was an experienced businessman and a certified public accountant. The Temples borrowed the money from Dominion Mortgage and Realty Trust (Dominion) to finance a…