The series of notes which had been issued, beginning in November of 1980, constituted instruments for the payment of money only within the terms of CPLR 3213. Each of the notes contains an unconditional promise to pay the principal amount due on May 24, 1983, with annual interest to be paid quarterly at the rate of 16%. The default in the payment of interest due January 1, 1982, accelerated the principal sums. Contrary to the claim by appellants, the fact that the notes contained...
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