Hammelburger v. Foursome Inn Corp.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Weinstein, J.
On August 30, 1974 the Foursome Inn Corporation, as mortgagor, executed a mortgage with Broadhollow Funding Corp. (BFC) in the principal sum of $35,000. The mortgage was for a three-year term, and carried a per annum interest rate of 24%. Foursome received only $32,900 of the principal sum; the remaining $2,100 was retained as a "commission” by an officer of BFC.
On October 1, 1975, Beatrice Reilly, Foursome’s president, executed an estoppel certificate relative to the mortgage, stating that "there are no defenses or offsets to said mortgage, nor to the bond…
2Cases cited17 opinions
- Sentenis v. . LadewNew York Court of Appeals · 1893
- Union Dime Savings Institution v. WilmotNew York Court of Appeals · 1883
- Band Realty Co. v. North Brewster, Inc.New York Court of Appeals · 1975
- Sturm v. TrubyAppellate Division of the Supreme Court of the State of New York · 1935
- Parthey v. BeyerAppellate Division of the Supreme Court of the State of New York · 1930
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