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WESTON BANKING CORP. v. BANKASI

86 A.D.2d 544 (1982)

Weston Banking Corporation, Appellant-Respondent, v. Turkiye Garanti Bankasi, A.S., Respondent-Appellant

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

January 19, 1982

On or about July 9, 1976, defendant, a Turkish bank, executed a promissory note in Istanbul in favor of plaintiff, a Panamanian corporation. (Neither party does business in New York.) The note evidenced a loan from plaintiff of 500,000 Swiss francs at interest of 9% per annum and provided: that the principal be repaid on July 9, 1979; that interest and principal be paid at Chemical Bank in New York City by "a cable transfer to Switzerland in lawful currency of the Swiss Federation...

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