Cooperatieve Centrale Raiffeisen-Boerenleenbank, B.A., “Rabobank International,” New York Branch, Respondent, v…

Summary

The New York Court of Appeals affirmed the Appellate Division, holding that the absolute and unconditional language of the guaranty waived the defendant's collusion defense and that the default judgment satisfied the condition precedent of an enforceable underlying debt. Accordingly, the plaintiff met its summary‑judgment burden and the guaranty was enforceable despite allegations of fraud. The court relied on established New York precedent that such guaranties preclude a broad range of defenses.