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EXETER HOLDING, LTD. v. STARLING DEVELOPMENT CORP.

283 A.D.2d 547 (2001)

724 N.Y.S.2d 896

EXETER HOLDING, LTD., Respondent, v. STARLING DEVELOPMENT CORP. et al., Appellants, et al., Defendants.

Appellate Division of the Supreme Court of the State of New York, Second Department.

Decided May 21, 2001.

Ordered that the order is affirmed insofar as appealed from, with costs.

Contrary to the appellants' contention, they failed to establish by clear and convincing evidence usurious intent on the part of the lender, Exeter Holding, Ltd. (hereinafter Exeter) (see, Freitas v Geddes Sav. & Loan Assn., 63 N.Y.2d 254, 261-262). Moreover, even if the subject loan had been conditioned on payment of an outstanding debt owed to...

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