Gorowitz v. Blumenstein

The plaintiff, on April 28, 1933, loaned the sum of $7,500 to the defendant, upon the execution by him of a promissory note in that sum, payable one year from date. This note was delivered simultaneously with and subject to an agreement of the same date which defined the rights and obligations of the parties thereto. On his part, plaintiff covenanted to extend the note “ for a further date, giving the party of the first part [defendant] an opportunity to pay the said obligation ” in the event it was not paid on its due date, and further agreed that he would not “ unreasonably and unfairly…