Rachlin & Co. v. Tra-Mar, Inc.

How courts have described this case

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

• noting that the Banking Law reads on section 5-501 of the General Obligations law and applying the maximum interest rate as the “legal rate” of interest in lieu of the six percent rate designated in the General Obligations Law
• “Upon the assumption that the value of the use of the principal sum to the creditor during the default of the debtor would equal interest at the statutory rate, the law properly measures his loss of such use at the statutory rate.”

Source: CourtListener parenthetical corpus (CC0).