2016 NY Slip Op 26250

Citation
2016 NY Slip Op 26250
Jurisdiction
New York (state)
Source verification
cross_accepted_sealed
Original Source
https://www.nycourts.gov/reporter/3dseries/2016/2016_26250.htm ↗

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Footnote 10:Even if Royal did not provide timely notice under section 7-103 (2) to Urban of the bank where the funds were held, such a violation would only create a rebuttable presumption that the funds were commingled. (See Paterno v Carroll, 75 AD3d 625, 628 [2d Dept 2010], citing Dan Klores Assoc., 288 AD2d 121.) As noted, Royal rebutted that presumption by proving that the funds were not commingled.