Legal Opinion
Trustco Bank New York v. 37 Clark Street, Inc.
New York Supreme Court
Decided February 24, 1993PublishedCited by 6 opinions
1Opinion of the Court
OPINION OF THE COURT
Loren N. Brown, J.
The plaintiff in this mortgage foreclosure action has moved for summary judgment, which includes an award of certain damages designated late charges. The defendant opposes the *844motion for summary judgment and disputes the late charges sought, contending that they are an impermissible penalty. The motion for summary judgment is granted, except that, for reasons to be stated, a late charge of $13,200 is disallowed.
Addressing the late charge sought, the note which the mortgage secured provides, in part, that a late charge of 6 cents for each dollar overdue…
2Cases cited2 opinions
- Lyon v. . HerseyNew York Court of Appeals · 1886
- Winston Personnel Agency, Inc. v. Abcon Industries, Inc.Civil Court of the City of New York · 1980
3Cited by6 opinions
- Trust v. BaruaAppellate Division of the Supreme Court of the State of New York · 2020
- In Re Market Center East Retail Property, Inc.United States Bankruptcy Court, D. New Mexico · 2010
- Kreiss v. McCown De Leeuw & Co.District Court, S.D. New York · 2001
- Hoosier Energy Rural Electric Cooperative, Inc. v. Amoco Tax Leasing IV Corp.Court of Appeals for the Seventh Circuit · 1994
- Hoosier Energy Rural Electric Cooperative, Incorporated v. Amoco Tax Leasing Iv CorporationCourt of Appeals for the Seventh Circuit · 1994
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