Legal Opinion
Bostwick-Westbury Corp. v. Commercial Trading Co.
Civil Court of the City of New York
Decided May 8, 1978PublishedCited by 8 opinions
1Opinion of the Court
OPINION OF THE COURT
Norman C. Ryp, J.
"Bonus” or "Precomputed Interest” Legal Lenders Reward or Improper Numbers Game?
A. FACTS
The plaintiff, Bostwick-Westbury Corp. (Bostwick) loaned Clermont Operating Corp. (Clermont) the sum of $23,000 on July 25, 1972, secured by a security agreement (chattel mortgage) dated October 13, 1972 (PX No. 1). PX No. 1 pledged fixtures and equipment owned by Clermont. Financing statements (UCC-1) were duly filed, under section 9-302 of the Uniform Commercial Code on October 20, 1972, to perfect plaintiff’s security interest.
Six months before, defendant, Commercial…
2Cases cited13 opinions
- 67 Wall Street Co. v. Franklin National BankNew York Court of Appeals · 1975
- Feldman v. Kings Highway Savings BankAppellate Division of the Supreme Court of the State of New York · 1951
- Feldman v. Kings Highway Savings BankNew York Court of Appeals · 1951
- Atlas Financial Corp. v. EzrineAppellate Division of the Supreme Court of the State of New York · 1973
- Cusick v. IfshinCivil Court of the City of New York · 1972
8 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- NML Capital v. Republic of ArgentinaNew York Court of Appeals · 2011
- In Re Solutia Inc.United States Bankruptcy Court, S.D. New York · 2007
- Broadcast Music, Inc. v. Perry L. Hirsch and Marc R. Staenberg v. United StatesCourt of Appeals for the Ninth Circuit · 1997
- Aardwoolf Corporation, Formerly Known as Spectrum Development Company, Inc. v. Nelson Capital CorporationCourt of Appeals for the Second Circuit · 1988
- People v. Service Institute, Inc.New York Supreme Court · 1979
3 more not listed; retrieve them via the Exa API.