H. Muehlstein & Co. v. Sternberg

Order, Supreme Court, New York County (Alvin F. Klein, J.), entered September 11, 1984, denying plaintiff’s motion for summary judgment in this action to recover on a personal guarantee, reversed, on the law, with costs, and the motion for summary judgment is granted.

On September 15, 1983 the defendant, principal in Jordan Plastics, Inc. (Jordan), executed a guarantee in favor of the plaintiff for the purpose of inducing the plaintiff to extend credit to Jordan for materials that were to be sold and delivered to Jordan. Defendant agreed to pay plaintiff “promptly on demand *636all such amounts…