Opinion
November 13, 1997
Appeal from the Supreme Court, New York County (Alice Schlesinger, J.).
We agree with the IAS Court's finding that the personal guarantees executed by defendants were primary obligations as to which defenses to the note were irrelevant and, since the guarantees were expressly applicable to obligations "now or hereafter existing, due or to become due", collateralized the 1988 note even though its underlying obligation was incurred after execution of the guarantees. It is therefore unnecessary to determine whether plaintiff established its status as a holder in due course.
Concur — Murphy, P. J., Rosenberger, Ellerin, Rubin and Tom, JJ.