Leibovici v. Rawicki

This action is to recover the sum of $5,000 with interest from the date of the demand for the return of that sum. The parties entered into a written agreement prepared by the defendant on October 30, 1961 whereby plaintiffs deposited with defendant $3,000 for the purpose of investing same. Defendant guaranteed the return of the money upon three months’ written notice. On January 2, 1963 plaintiffs gave defendant an additional $2,000 upon the same terms and similar written agreement. The defense is that the agreements were usurious.

The agreement is set forth in full:

‘ ‘ I, the above, have this…