New York Statutes
§ 5-515 — Borrower bringing an action need not offer to repay
New York·Law GOB General Obligations·Title 5 Interest and Usury; Brokerage On Loans·Art. 5 Creation, Definition and Enforcement of Contractual Obligations
§ 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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Related
Szerdahelyi v. Harris
110 A.D.2d 550 (Appellate Division of the Supreme Court of New York, 1985)
Nearby Sections
15
§ 5-1107
Written assignment§ 5-1109
Written irrevocable offer§ 5-1301
How interest calculated§ 5-1401
Choice of law§ 5-1402
Choice of forum§ 5-1501
Application and definitions