[Download] "Citibank v. Allan R. Plapinger Et Al." by Court of Appeals of New York # eBook PDF Kindle ePub Free
eBook details
- Title: Citibank v. Allan R. Plapinger Et Al.
- Author : Court of Appeals of New York
- Release Date : January 22, 1985
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 58 KB
Description
[66 N.Y.2d 90 Page 92] Opinion OF THE COURT Fraud in the inducement of a guarantee by corporate officers of the corporation's indebtedness is not a defense to an action on the guarantee when the guarantee recites that it is absolute and unconditional irrespective of any lack of validity or enforceability of the guarantee, or any other circumstance which might otherwise constitute a defense available to a guarantor in respect of the guarantee, those recitals being inconsistent with the guarantors' claim of reliance upon an oral representation that the lending banks were committed to extend to the corporation an additional line of credit. The order of the Appellate Division should, therefore, be affirmed, with costs.
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