London Leasing Corp. v. Interfina, Inc.

279 N.Y.S.2d 209 (1967)

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Nature of the Case

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Facts

D made and delivered to P a promissory note for $52,000. It was signed by D1 as president of D, and also personally indorsed by D1. The note was not paid and D, by D1, entered into letter agreements with P extending the time for payment. D1 signed the agreements, but only in his corporate capacity. Eventually, the sum of $19,500 was due. P filed a motion for summary judgment against Ds. Against D there is no question that summary judgment should be granted. D1 contends that the extension agreements discharged him from personal liability on the note because he did not personally consent to the extension.