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eBook details

• Title: James Mandelino v. Louis M. Fribourg Et Al.
• Author : Court of Appeals of New York
• Release Date : January 14, 1968
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 63 KB

Description

[23 N.Y.2d 145 Page 146] Plaintiff, a real estate broker, purchased from defendants a building in Flatbush Avenue, Brooklyn, for $15,500. He paid
$1,000 in cash and executed a purchase-money mortgage for $14,500. The purchase-money mortgage in terms required the payment
of 7% interest. This was in January, 1964. The statute on usury then in effect (General Business Law, former §§ 370, 371)
prescribed the rate of interest "upon the loan or forbearance of any money, goods, or things, in action" should [23 N.Y.2d
145 Page 147]

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