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CRAWFORD v. CARLTON

73 A.D.2d 530 (1979)

George Crawford, Jr., Respondent, v. William Carlton, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

December 6, 1979

The promissory demand note dated July 29, 1976, in the principal amount of $50,000, with interest at the rate of 10% per annum, is patently usurious and, therefore, void under section 5-511 of the General Obligations Law. Section 5-519 of the General Obligations Law "was never intended and cannot be construed to emasculate [General Business Law, § 373 (now General Obligations Law, § 5-511)]" (Bowery Sav. Bank v Nirenstein...

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