Court of Appeals of New York
R/S ASSOC. v. NEW YORK JOB DEV. AUTH., 2 No. 54
The term "effective cost of funds" is not ambiguous as used in a loan agreement between the parties; the contract will be interpreted by its own language, and such costs include the interest rate on a bond, the cost of issuance, and the cost of defaults by other borrowers.
Appellate Information
- Decided 04/30/2002
- Published 04/30/2002
Judges
Court
- Court of Appeals of New York