Legal Opinion
Norstar Bank v. Office Control Systems, Inc.
Appellate Division of the Supreme Court of the State of New York
Decided February 28, 1991PublishedCited by 6 opinions
1Opinion of the Court
OPINION OF THE COURT
Casey, J.
In December 1988, defendant Robert Winig (hereinafter defendant) borrowed $23,750 from plaintiff, which defendant used to purchase an interest in defendant Office Control Systems, Inc. (hereinafter OCS). In return for the loan, defendant executed a promissory note in favor of plaintiff and a guarantee. The note contained a cross-default provision which authorized plaintiff to accelerate the note and declare it immediately due whenever it had the right to do so under any other agreement in effect between plaintiff and defendant. The guarantee listed OCS as the…
2Cases cited5 opinions
- Fleming v. PonzianiNew York Court of Appeals · 1969
- Mix v. NeffAppellate Division of the Supreme Court of the State of New York · 1984
- Dunkin' Donuts of America, Inc. v. LiberatoreAppellate Division of the Supreme Court of the State of New York · 1988
- First National Bank v. FazzariNew York Court of Appeals · 1961
- State Bank of Albany v. RoarkeAppellate Division of the Supreme Court of the State of New York · 1983
3Cited by6 opinions
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- Bellevue Builders Supply, Inc. v. BelmonteAppellate Division of the Supreme Court of the State of New York · 2000
- ABR Wholesalers, Inc. v. KingAppellate Division of the Supreme Court of the State of New York · 2019
- North Hills Office Service v. BevonaAppellate Division of the Supreme Court of the State of New York · 1995
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