Silver v. Michelle Gardens, Inc.

Gold, P. J.,

— During 1960, Robert and Edith Skalsky borrowed $10,000 from plaintiffs *290and gave in return their personal judgment note for $13,000 and various collateral security. The interest charged and included in the note was usurious.

The Skalskys made payments on the loan for about one year at which time they found it necessary to obtain another loan from another party, but in order to do so, it was required that the security deposited with plaintiffs be posted with the new lender.

After negotiations, plaintiffs agreed to release the collateral then held by them in exchange for a judgment…