[DOWNLOAD] "William H. Geary Et Al." by Supreme Court of New York # eBook PDF Kindle ePub Free

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eBook details

• Title: William H. Geary Et Al.
• Author : Supreme Court of New York
• Release Date : January 13, 1978
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 55 KB

Description

[62 A.D.2d 1083 Page 1083] Appeal from a judgment of the Supreme Court in favor of plaintiff, entered April 6, 1977 in Albany County, upon a decision of the court at a Trial Term, without a jury. In 1966, William H. Geary, sold to Dade Construction Company a certain tract of land in consideration of which Dade executed a purchase-money bond and mortgage. On February 8, 1967, Dade entered into an agreement with Dade Development Corporation (hereinafter Coventry) in which Coventry acquired the property subject to the mortgage. The agreement made the contract contingent upon obtaining the consent of the mortgagee and Coventry agreed to pay the interest on the mortgage and the real property taxes. Plaintiff executed the required consent agreement on February 11, 1967. Subsequently, Dade defaulted on the payment of the mortgage and a foreclosure action was commenced. An order of foreclosure was signed on February 26, 1973, and judgment was entered. Three issues were severed in the judgment for trial: (1) were plaintiffs beneficiariesof the Dade-Coventry agreement of February 8, 1967; (2) is recovery by plaintiffs barred by res judicata or collateral estoppel; and (3) is recovery barred by the nonoccurrence of a condition precedent or a condition subsequent which excused the performance. The trial court held that it was the intention of the parties to establish the plaintiffs as beneficiaries of an agreement of surety whereby Coventry guaranteed Dade's obligations with respect to interest and real [62 A.D.2d 1083 Page 1084]

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