President & Directors of the Manhattan Co. v. Rudner

In this action to recover the face amount of a demand promissory note in the amount of $5,000, dated November 23, 1946, which was interest-bearing at the rate of 6%, the defense was usury. Judgment in favor of plaintiff for the principal amount of $4,277.89, with interest thereon from August 3, 1947, together with costs, modified on the law and the facts so as to provide for an award of $4,203.14, on account of principal, and computation of interest from August 4, 1947, together with costs. As so modified, the judgment is affirmed, without costs. Applying the first payment which defendant…