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SCHWARTZ v. TURNER HOLDINGS, INC.

139 A.D.2d 458 (1988)

Louis Schwartz, Appellant, v. Turner Holdings, Inc., Respondent

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

April 26, 1988

In this CPLR 3213 motion, the note upon which plaintiff sues, the Turner note, does not state a rate of interest. Instead, it refers to another promissory note, which itself does not state a rate of interest either but refers to "Chase Manhattan Prime plus½% adjusted on the day of any change." The Turner note, executed on August 15, 1985, provided for the payment of principal in two equal installments, on the fifth and sixth anniversary thereof, and with interest to...

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