Vacating a Judgment by Confession Due to Fraud
- Jul 29 2024
By Jeffrey M. Haber A confession of judgment is an agreement whereby a defendant or debtor agrees to the entry of judgment against him/her in an amount certain. It is a …
Category: Criminal Usury
SECOND DEPARTMENT FINDS LOAN IS NOT SUBJECT TO USURY LAWS BECAUSE PRINCIPAL VALUE EXCEEDS $2,500,000
- Mar 8 2024
By Jonathan H. Freiberger Folks have general notions about usury. However, there are many nuances to the application of the usury laws in New York. This BLOG has previously written …
Second Department Finds That Merchant Agreement Is A Criminally Usurious Loan
- Nov 17 2023
By Jonathan H. Freiberger Today’s Blog article is about usury, a topic that has previously been covered. See, e.g., [here], [here], [here], [here]. Society’s disdain for usury was recently articulated …
Agreements That Are Not Loans Are Not Subject to New York’s Usury Statutes
- Dec 22 2021
By: Jeffrey M. Haber “A transaction … is usurious under criminal law when it imposes an annual interest rate exceeding 25%.”1 General Obligations Law § 5–521 bars a corporation from asserting …
