134 Misc. 245 | N.Y. Sup. Ct. | 1929
The action is brought to recover a balance due plaintiff of a fund deposited by the plaintiff with the defendant. The answer contains two affirmative defenses. The first is that in 1922 the defendant procured a certificate of dissolution from the Secretary of State. The second defense is the Statute of Limitations. The first defense fails as the mere dissolution of a corporation does not absolutely destroy its existence. The law is clear that it nevertheless continues for the liquidation of its assets and the payment of its debts, and it may sue and be sued in its corporate name. (Gen. Corp. Law, § 221, subd. 3, now Stock Corp. Law of 1923, § 105, subd. 8; Metropolitan Tel. Co. v. Metropolitan Tel. Co., 156 App. Div. 577.) The defense of the Statute of
Motion to strike out defendant’s answer and for summary judgment granted. Settle order.