Leumi Financial Corporation, Respondent-Appellant v. Morton J. Richter, Appellants-Respondents

Summary

The Court of Appeals affirmed the lower courts' summary judgment in favor of the plaintiff, holding that the promissory note was enforceable on its written terms, that the loan qualified for the exemption under § 379 of the General Business Law despite the collateral's modest value, and that interest after default was limited to 6 percent. The decision rested on the parol‑evidence rule and statutory interpretation.