43 A.D.2d 993 | N.Y. App. Div. | 1974
Lead Opinion
Appeal from a judgment of the Supreme Court in favor of the plaintiff, entered June 11, 1973 in Washington County, upon a decision of the court at a Trial Term, without a jury. This is an action on a promissory note made payable to the order of the First National Bank of Glens Falls in the sum of $2,581.68. Three signatures appear on the face of the note in the following order: first, Nicholas Chakalis; second, Dominick Arcuri; and third, Louis Brown. Factually, this dispute arose after Chakalis, who was desirous of borrowing some money, was unable to do so on his own behalf because of his poor credit rating. He, therefore, arranged, to acquire the funds through the plaintiff, Brown, a professional guarantor of loans and a man with whom Chakalis and the defendant, Arcuri, had had similar dealings in the past. As on those earlier occasions, plaintiff insisted that the defendant, a business associate of Chakalis, also sign the note to guarantee payment in light of Chakalis’ credit rating. In this instance, plaintiff received á fee of $400 for his services while defendant signed the note as a favor for his business ■ associate. After Chakalis received the proceeds of the note, minus plaintiff’s fee, he made his payments for a time and then defaulted. The bank thereupon made a demand upon the plaintiff for the balance due and he paid it, after which he commenced this action to recover the same. The trial court found, as between plaintiff and defendant, that defendant assumed the role of guarantor. Therefore, it concluded that plaintiff was entitled to full indemnity from the defendant for the amount which he had paid to the bank on the defaulted note. Defendant challenges this result on appeal,
Concurrence Opinion
(concurring): I concur in the result upon the sole ground that there was no objection taken to the testimony of Brown with reference to oral conversations with-the defendant Arcuri. In limiting my concurrence to the present record, I would observe that under other circumstancés the-result might be substantially different.