EUROPEAN AM. BANK v. PEDDLERS POND HOLDING CORP.


185 A.D.2d 805 (1992)

European American Bank, Formerly Known as European American Bank & Trust Company, Appellant, v. Peddlers Pond Holding Corp. et al., Respondents

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

August 3, 1992


Ordered that the order is reversed insofar as appealed from, on the law, with costs, the plaintiff's motion to confirm the Referee's report is granted, and the matter is remitted to the Supreme Court, Westchester County, for further proceedings consistent herewith.

It is well established that when a contract provides for interest to be paid at a specified rate until the principal is paid, the contract rate of interest, rather...

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