179 A.D.2d 736 | N.Y. App. Div. | 1992
The plaintiff, a New York bank, seeks to recover the proceeds of a promissory note issued by the defendant to the plaintiffs predecessor in interest, also a New York bank. The sole question on this appeal is whether the Supreme Court properly granted the defendant’s motion to dismiss the complaint based, inter alia, on a lack of personal jurisdiction over the defendant (see, CPLR 302 [a] [1]).
Although the defendant, a New Mexico domiciliary, signed the promissory note in New Mexico, the proceeds of the note were payable in New York and were used to finance the business of a New York limited partnership. In addition, the note was secured by an agreement pledging the defendant’s shares in the limited partnership. Finally, the pledge agreement provided that any questions arising thereunder would be governed by New York law.