Mutual Protective Corporation v. Palatnick

The substituted complaint alleges that the defendant Palatnick borrowed $940 from the plaintiff and signed a note, payable to it or order, for $1000, payable $20 weekly commencing one week after date, and providing that upon default in any payment for one week after due the whole amount shall become due. The defendants Tonken and Goodman indorsed the note before delivery. It is further alleged, in paragraph six, that “Said sum was loaned to the defendant J. Palatnick with no intent other than to receive the amount actually loaned plus interest at the rate of six per cent, per annum, and…