Lander v. Gambino, 94 A.D.2d 715 (N.Y. App. Div. 1983). · Go Syfert
Lander v. Gambino, 94 A.D.2d 715 (N.Y. App. Div. 1983). Cases Citing This Book View Copy Cite
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Frank A. Lander
v.
Natale Gambino, and Peter Matone
Appellate Division of the Supreme Court of the State of New York.
May 9, 1983.
94 A.D.2d 715
1983 N.Y. App. Div. LEXIS 18156
Published

— In an action to recover on a promissory note, defendant Matone appeals from a judgment of the Supreme Court, Orange County (Dickinson, J.), dated October 29, 1982, which was in favor of the plaintiff and against Matone in the sum of $25,165.49. Judgment affirmed, with $50 costs and disbursements. In the instant matter, the promissory note sued upon evidences a pre-existing debt of appellant to plaintiff. This transaction cannot be viewed as a means of disguising a usurious loan. Since nothing akin to the borrowing or lending of money, goods or things in action (General Obligations Law, § 5-501, subd 1; § 5-511, subd 1) is involved, the prohibition and forfeiture provisions of the usury laws are inapplicable (see DeSimon v Ogden Assoc., 88 AD2d 472; Stitz v Stevens, 70 AD2d 588, affd 48 NY2d 957; Schreiber v Thistle, Inc., 108 Mise 2d 333). Mollen, P. J., Lazer, Weinstein and Rubin, JJ., concur.