Leumi Financial Corp. v. Richter

Judgment entered in plaintiff’s favor after the granting of plaintiff’s motion for summary judgment modified, on the law, to the extent of decreasing the amount of allowable interest to the sum of $6,581.25 and as so modified, affirmed, with $50 costs to respondent. In the light of the papers submitted by the plaintiff, the proof offered in support of defendants’ contention that the loan was not payable on demand but rather was for a period of one year, fails to create the requisite triable issue of fact. To say that the demand loan was a matter of form in the circumstances of this case did…