New York Statutes

§ 5-517 — Transfer of cause of action for usury

New York·Law GOB General Obligations·Title 5 Interest and Usury; Brokerage On Loans·Art. 5 Creation, Definition and Enforcement of Contractual Obligations
§ 5-517. Transfer of cause of action for usury. A cause of action to\ncancel, or otherwise affect, an instrument executed, or an act done, as\nsecurity for a usurious loan or forbearance, can be transferred, where\nthe instrument or act creates a specific charge upon property, which is\nalso transferred in disaffirmance thereof, and not otherwise; but, in\nthat case, the transferee does not succeed to the right, conferred by\nstatute upon the borrower, to procure relief, without paying, or\noffering to pay, any part of the sum or thing loaned.\n

Free access — add to your briefcase to read the full text and ask questions with AI

New York § 5-517 (Transfer of cause of action for usury) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

Youshah v. Staudinger
159 Misc. 2d 350 (New York Supreme Court, 1993)
1 case citations

Nearby Sections

15
View on official source ↗