Weitz v. Murphy

In an action to recover upon a promis*548sory note, the defendant appeals from an order of the Supreme Court, Nassau County (Franco, J.), dated July 3, 1996, which denied his motion to vacate a judgment entered March 28, 1996, upon his confession of judgment.

Ordered that the order is reversed, on the law, with costs, the defendant’s motion is granted, and the judgment is vacated.

On February 15, 1996, the parties entered into a stipulation settling their action for the sum of $125,000. The money was payable in three installments of $25,000 due 30, 60, and 90 days thereafter, respectively, with…