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SALREX INVS., INC. v. M. SLAVIN & SONS, INC.

214 A.D.2d 399 (1995)

625 N.Y.S.2d 168

Salrex Investments, Inc., Appellant, v. M. Slavin & Sons, Inc., Respondent. (And a Third-Party Action.)

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

April 13, 1995

In an action on a promissory note, where the documentary evidence conclusively indicates the existence of a loan, summary judgment will not be precluded based solely on the unsupported statement of the debtor indicating that the transaction was made to appear to be a loan for ill-defined tax purposes (see, Ehrlich v American Moninger Greenhouse Mfg. Corp., 26 N.Y.2d 255).

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