Thompson v. Berry & Van Beuren
New York Court of Chancery
THE bill stated that the plaintiff, having become embarrassed and pressed for money to pay certain debts, made a note, dated March 12, 1807, in favour of John Ward, (a broker) for 500 dollars, payable in sixty days; and on the 19th of March, he made another note to J. W. for the like sum, payable in 60 days, for which he received of J. W. 1,000 dollars, but was obliged to allow him interest thereon, at the rate of two per cent, per month.
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THE bill stated that the plaintiff, having become embarrassed and pressed for money to pay certain debts, made a note, dated March 12, 1807, in favour of John Ward, (a broker) for 500 dollars, payable in sixty days; and on the 19th of March, he made another note to J. W. for the like sum, payable in 60 days, for which he received of J. W. 1,000 dollars, but was obliged to allow him interest thereon, at the rate of two per cent, per month. That the plaintiff was under the necessity of renewing these notes, as they became due, and on such renewal, to allow the same rate of interest", that the…
1Opinion of the Court
The Chancellor.
The plaintiff appears to have been most grievously oppressed, by a series of usurious exactions, and it seems indispensable to justice, that such a victim should be relieved. There is sufficient ground for disregarding the judgment confessed in January, 1812, and for opening the accounts at large, from the very commencement of the dealings; nor can it be permitted that the usury, accumulated while the plaintiff was in the hands of Ward, should be covered by the assignment of that debt, to the defendant _ Berry; who, by bis own answer, appears to have had sufficient knowledge of…
2Cited by10 opinions
- Brown v. SwannSupreme Court of the United States · 1836
- Universal Credit Co. v. LowellRochester City Court · 1938
- Davis v. William M. Tileston & Co.Supreme Court of the United States · 1848
- Brown v. SwannSupreme Court of the United States · 1836
- Brown v. FletcherDistrict Court, S.D. New York · 1917
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