Galatti v. Alliance Funding Co.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
Contrary to the plaintiffs’ contention, the Supreme Court properly dismissed their first cause of action to recover damages based upon an allegedly usurious second mortgage note. The record unequivocally demonstrates that the note was exempt from the general prohibition against usury since the original mortgagee was a licensed mortgage banker (see, Bank*551ing Law § 590-a [1]; River Bank Am. v Gatov, 203 AD2d 548, cert denied 514 US 1055,115 S Ct 1438). The defendants, as the lawful assignees of that mortgagee, are similarly entitled to assert that exemption (see, General Obligations Law §§…
2Cases cited6 opinions
- Zuckerman v. City of New YorkNew York Court of Appeals · 1980
- Azzopardi v. American Blower Corp.Appellate Division of the Supreme Court of the State of New York · 1993
- Moscato v. City of New YorkAppellate Division of the Supreme Court of the State of New York · 1992
- Lefft v. Canada Life Assurance Co.Appellate Division of the Supreme Court of the State of New York · 1972
- River Bank America v. GatovAppellate Division of the Supreme Court of the State of New York · 1994
1 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Johnston v. Continental Broker-Dealer Corp.Appellate Division of the Supreme Court of the State of New York · 2001
- Canter v. East Nassau Medical GroupAppellate Division of the Supreme Court of the State of New York · 2000
- Peterkin v. City of New YorkAppellate Division of the Supreme Court of the State of New York · 2002
- Oyster Bay Associates Limited Partnership v. Town Board of Oyster BayAppellate Division of the Supreme Court of the State of New York · 2005
- Pinkston v. WeissAppellate Division of the Supreme Court of the State of New York · 1997
7 more not listed; retrieve them via the Exa API.