Appellate Division of the Supreme Court of the State of New York January 23, 1981 (Tette v. Marine Midland Bank)

OPINION OF THE COURT

Callahan, J.

On May 18, 1977 plaintiff loaned Asore Realty Corporation $42,000 as evidenced by a promissory note executed by Philip J. Scardino, individually and as president of the corporation. In January, 1978, when demand was made for payment in full, Scardino and his corporation defaulted on the note.