Prime Funding, Inc. v. Demetriades

In an action to recover a brokerage commission, the plaintiff appeals from an order of the Supreme Court, Suffolk County (Luciano, J.), dated July 24, 1985, which granted the defendant’s motion to dismiss the complaint for failure to state a cause of action.

Ordered that the order is affirmed, with costs.

The defendant engaged the plaintiff to obtain a $300,000 mortgage with a 20-year duration. For the first five years interest was to be at 14ti% and for the balance of 15 years the interest was to be at 1Vi% above the lending bank’s prime interest rate. Instead, the plaintiff obtained a…