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Commercial Law Keyed to Whaley
London Leasing Corp. v. Interfina, Inc.
Citation:
53 Misc. 2d 657, 279 N.Y.S.2d 209 (1967)Facts
On May 3, 1966, Interfina signed a promissory note to repay $52,000 to Plaintiff, which was personally guaranteed by Evans, the company’s president. The note was not paid when it became due on August 2, 1966, but Evans, on behalf of Interfina, signed a series of agreements with Plaintiff extending the due date. Evans signed these agreements only in his capacity as president, not personally. Plaintiff sued to recover the remaining $19,500 due on the promissory note. Evans argued that the extension agreements discharged him from personal liability because he had not personally consented to them.
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