Buffalo law firm focusing on all aspects of commercial law
Advanced Safety Systems N.Y., Inc. v. Manufacturers and Traders Trust Company
| Matter Name: | Advanced Safety Systems N.Y., Inc. v. Manufacturers and Traders Trust Company |
| Client Name: | Advanced Safety Systems N.Y., Inc. |
| Case Summary: | Debtor and personal guarantor sued bank alleging various claims arising out of the bank’s seizure of the company’s account upon an alleged default. The Appellate Division held that whether the bank breached its duty of good faith and fair dealing implied in contracts was a question of fact; whether the bank wrongfully dishonored checks issued on a guarantor’s account was a fact question and that punitive damages could not be awarded. |
| Date of Decision | December 30, 1992 |
| Practice Area | Banking, Litigation, Debtor/Credit Rights, Lender Liability |