Legal Opinion
Stanley Weisz, P. C. Retirement Plan v. NCHD Associates, Inc.
Appellate Division of the Supreme Court of the State of New York
Decided March 3, 1997PublishedCited by 4 opinions
1Opinion of the Court
In an action to foreclose a mortgage, the plaintiff appeals from an order and judgment (one paper) of the Supreme Court, Suffolk County (Henry, J.), entered November 16, 1995, which, after a hearing, is in favor of the defendants and against it, declaring the mortgage null and void and dismissing the complaint.
*277Ordered that the order and judgment is affirmed, with costs.
Pursuant to General Obligations Law § 5-501, a loan shall be deemed usurious if it exceeds an interest rate of 16% per annum (see, Banking Law § 14-a). It is well settled, however, that where a loan is made to a corporation,…
2Cases cited7 opinions
- Freitas v. Geddes Savings & Loan Ass'nNew York Court of Appeals · 1984
- Thelma Sanders & Associates, Inc. v. FriedmanAppellate Division of the Supreme Court of the State of New York · 1988
- Fried v. BolanosAppellate Division of the Supreme Court of the State of New York · 1995
- Webar, Inc. v. CapraAppellate Division of the Supreme Court of the State of New York · 1995
- Wolfson v. Kasa Lithuanian Federal Credit UnionAppellate Division of the Supreme Court of the State of New York · 1990
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3Cited by4 opinions
- Abir v. Malky, Inc.Appellate Division of the Supreme Court of the State of New York · 2009
- Simoni v. Time-Line, Ltd.Appellate Division of the Supreme Court of the State of New York · 2000
- Cohen v. EisenbergAppellate Division of the Supreme Court of the State of New York · 1999
- 542 A Realty, LLC v. A. Davis, LLCAppellate Division of the Supreme Court of the State of New York · 2020