Case Name: Sherwin Cody et al., Respondents, v. Saul R. Gaynes et al., Appellants, et al., Defendants
Court: New York Supreme Court, Appellate Division
Jurisdiction: New York
Decision Date: 1952-03-03
Citations: 279 A.D. 910
Docket Number: 
Parties: Sherwin Cody et al., Respondents, v. Saul R. Gaynes et al., Appellants, et al., Defendants.
Judges: 
Reporter: Appellate Division Reports
Volume: 279
Pages: 910–910

Head Matter:
Sherwin Cody et al., Respondents, v. Saul R. Gaynes et al., Appellants, et al., Defendants.

Opinion:
An agreement to hold plaintiffs harmless from claims constitutes a promise to indemnify against loss rather than a promise to indemnify against liability and, in the absence of an allegation of actual loss, a cause of action is insufficient. {Fredel v. Greene, 278 App. Div. 579, affd. 302 jST. Y. 859.) The third cause of action of the corporate plaintiff, is insufficient because there is no allegation that the corporate plaintiff has any interest in the bonds. Carswell, Acting P. J., Johnston, Adel, Wenzel and MacCrate, JJ., concur.