First International Bank of Israel, Ltd., Respondent v. L. Blankstein & Son, Inc., Appellants; First…

Summary

The New York Court of Appeals affirmed the Appellate Division, holding that the plaintiff bank was a holder in due course of the two promissory notes and therefore entitled to enforce them free of the defendants' personal defenses; the court also rejected the defendants' reliance on parol‑evidence rules and held that the bank need not first enforce its security interest in the diamonds.