Translate
Text Highlighter

Bookmark

PDF

Share

Report a problem
AMICUS AI
Citation Codes
Equivalent Citations
citation codes
Attorney(S)
Judges
Are you a practicing lawyer?
Enhance your digital presence and reach by creating a Casemine profile.
Upload pleading to use the new AI search
Cites
Cited by
Citation Codes
Equivalent Citations
citation codes
Attorney(S)
Judges

SILVERMAN KANTROWICH, INC., Plaintiff, v. ARTHUR WALTER LIEBERS, Defendant.

FRANKENTHALER, J.

The action is for breach of a written contract by which defendant it is claimed agreed to lend plaintiff $40,000. The defense sought to be stricken out alleges that defendant was to receive a bonus of $10,500 for the loan, and that defendant rescinded the agreement on learning that this payment would make the agreement illegal and usurious. As plaintiff, the borrower, was a corporation, the usury laws of this State have no application to it. (Gen. Bus. Law, § 374; Moers v. American Exch. Nat. Bank, No. 1, 208 A.D. 473; Rosa v. Butterfield, 33 N.Y. 665; MacQuoid v. Queens Estates, 143 A.D. 134.) Moreover, an alleged usurer cannot claim that an agreement made by him is usurious, even though it is still executory. ( Billington v. Wagoner, 33 N.Y. 31.) Motion granted.

Use AI to get other relevant cases.

Comments

SILVERMAN KANTROWICH, INC., v. LIEBERS
(Sep 23, 1927)