New York § 5-515 Borrower bringing an action need not offer to repay

New York Statutes

§ 5-515 — Borrower bringing an action need not offer to repay

New York § 5-515

Law GOBGeneral Obligations

Title 5Interest and Usury; Brokerage On Loans

Art. 5Creation, Definition and Enforcement of Contractual Obligations

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Bluebook

N.Y. General Obligations § 5-515 (2026).

Text

  § 5-515. Borrower bringing an action need not offer to repay.\nWhenever any borrower of money, goods or things in action, shall begin\nan action for the recovery of the money, goods or things in action taken\nin violation of the foregoing provisions of this title, it shall not be\nnecessary for him to pay or offer to pay any interest or principal on\nthe sum or thing loaned; nor shall any court require or compel the\npayment or deposit of the principal sum or interest, or any portion\nthereof, as a condition of granting relief to the borrower in any case\nof usurious loans forbidden by the foregoing provisions of this title.\n

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§ 5-515. Borrower bringing an action need not offer to repay.\nWhenever any borrower of money, goods or things in action, shall begin\nan action for the recovery of the money, goods or things in action taken\nin violation of the foregoing provisions of this title, it shall not be\nnecessary for him to pay or offer to pay any interest or principal on\nthe sum or thing loaned; nor shall any court require or compel the\npayment or deposit of the principal sum or interest, or any portion\nthereof, as a condition of granting relief to the borrower in any case\nof usurious loans forbidden by the foregoing provisions of this title.\n