Andrews v. Stelle

Tlie opinion of tlie court was delivered by

Vast Syokel, J.

To tlie bill filed for the foreclosure of a mortgage given to the complainant, Andrews and wife, tlie mortgagors, set up in their answer two defences: First. That Stelle holds the mortgage in trust for the City Bank of Perth Amboy, an insolvent corporation, and that the receivers of the bank must bo parties. Second. Usury.

Before the bill was filed, Andrews’ equity of redemption in the whole of the mortgaged premises had been sold, and it is insisted that ho cannot, therefore, sot up the defence of usury in this case. Andrews, having no…