Schnitzer v. Husted

This is an action upon two promissory notes made in 1889 by the defendant, Sabina E. Husted, to the order of and endorsed by her husband, the other defendant, and by him. transferred to plaintiff before maturity. In the body of each note, above the maker’s signature, is contained the following statement: “ And it is hereby agreed that this note shall be chargeable to-my separate estate, which has received the benefit thereof; value received.” The defense was usury, and the conditions under which it was transferred to plaintiff by the payee husband are in dispute; the plaintiff contending that…