New York Court of Appeals, 1971

In re the Assignment for the Benefit of Creditors of Decorative Cabinet Corp.

In re the Assignment for the Benefit of Creditors of Decorative Cabinet Corp.
New York Court of Appeals · Decided February 24, 1971
28 N.Y.2d 665; 320 N.Y.S.2d 530; 269 N.E.2d 199; 1971 N.Y. LEXIS 1509

In re the Assignment for the Benefit of Creditors of Decorative Cabinet Corp.

Opinion of the Court

Order affirmed, without costs. It is not necessary to consider the applicability of the parol evidence rule because, in any event, the subsequent creditors and purchasers in good faith would not be bound by the undisclosed arrangements among the parties to the lending transactions. Furthermore, petitioner Hyse Realty Corp. was estopped, as Special Term properly found, because of the nondisclosure of such arrangements.

Concur: Chief Judge Fuld and Judges Scileppi, Bergan, Breitel, Jasen and Gibson. Taking no part: Judge Burke.

Case-law data current through December 31, 2025. Source: CourtListener bulk data.