Gelco Builders v. Simpson Factors Corp.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• concluding that the maximum noted in the Banking Law — as opposed to the six per cent per annum prescribed in the General Obligations Law — should be applied
• noting that the determination of the legal rate “has always been construed in terms of the maximum permitted in the ‘usury-statute’ now General Obligations Law, Section 5-501” but that this law was amended to provide that the rate of interest prescribed by Section 14(a
• requiring proof of damages on the date from which prejudgment interest runs

Source: CourtListener parenthetical corpus (CC0).