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R/S ASSOCIATES v. NEW YORK JOB DEVELOPMENT AUTHORITY

281 A.D.2d 608 (2001)

722 N.Y.S.2d 396

R/S ASSOCIATES et al., Appellants, v. NEW YORK JOB DEVELOPMENT AUTHORITY, Respondent.

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

Decided March 26, 2001.

Ordered that the order is affirmed insofar as appealed from, with costs.

Contrary to the plaintiffs' contention, the term "effective cost of funds" is not ambiguous (B & R Children's Overalls Co. v New York Job Dev. Auth., 257 A.D.2d 368). As a result, the rules governing the construction of ambiguous contracts were not triggered (see, Matter of Wallace v 600 Partners Co., 86 N.Y.2d 543

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