Cura Found. v Shaya

Holding The court held that the promissory note was an instrument for the payment of money only under CPLR 3213, permitting summary judgment in lieu of complaint. The defendant’s defenses of fraud and breach of the underlying pledge agreement were insufficient to defeat the motion because the note contained an unconditional payment clause and the alleged fraud was legally insufficient.

The court’s words

The promissory note on which plaintiff sues is "an instrument for the payment of money only" (CPLR 3213).

2026 NY Slip Op 06061, at the official text

The note, which is signed by defendant, contains an unconditional promise to pay a sum certain, and specifies definite times when amounts are due

2026 NY Slip Op 06061, at the official text

The provision which recites that defendant "is providing this . . . Promissory Note to pay the balance due of the Irrevocable Pledge Commitment made between the [parties]" does not remove it from the ambit of CPLR 3213

2026 NY Slip Op 06061, at the official text

the note does not incorporate the pledge agreement wholesale. Rather, it merely says that the pledge agreement and the note represent the parties' entire understanding

2026 NY Slip Op 06061, at the official text

the note provides that his "payment obligations . . . are unconditional and absolute and are not subject to any defense, offset or counterclaim of any kind whatsoever for any reason."

2026 NY Slip Op 06061, at the official text

The fraud claim is legally insufficient because the only fraud alleged relates to a breach of the pledge agreement

2026 NY Slip Op 06061, at the official text

his conclusory affirmation is insufficient to defeat plaintiff's motion for summary judgment in lieu of complaint

2026 NY Slip Op 06061, at the official text

defendant fails to show a fraudulent intent on plaintiff's part at the time it made the alleged representations

2026 NY Slip Op 06061, at the official text