Legal Opinion
National Travis Inc. v. Gialousakis
New York Supreme Court
Decided August 24, 1983PublishedCited by 3 opinions
1Opinion of the Court
OPINION OF THE COURT
Jeffrey G. Stark, J.
Usurious loans are invalid and unenforceable as a matter of law and public policy. Where, as in this case, two judgment debtors by default make a substantial showing that their loan was usurious and that their creditor obtained the default judgment by misrepresenting the nature of the underlying loan, the debtors need not show an excuse for the default to obtain an order vacating the judgment. Both under the CPLR and pursuant to the court’s inherent authority to vacate default judgments in the interests of justice, the debtors are entitled to their day…
2Cases cited6 opinions
- Moran v. RynarAppellate Division of the Supreme Court of the State of New York · 1972
- Kandel v. State Division of Human RightsAppellate Division of the Supreme Court of the State of New York · 1979
- Central Funding Co. v. KimlerAppellate Division of the Supreme Court of the State of New York · 1976
- Town of Greenburgh v. SchroerAppellate Division of the Supreme Court of the State of New York · 1976
- Meyerson v. John A. Lynch, Inc.Appellate Division of the Supreme Court of the State of New York · 1968
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Rockefeller v. JeckelAppellate Division of the Supreme Court of the State of New York · 1990
- Carlson v. CooperAppellate Division of the Supreme Court of the State of New York · 1986
- Gowan v. Gardi (In re Gardi)United States Bankruptcy Court, E.D. New York · 2002