Isle of Wight Co. v. Smith
New York Supreme Court
Appeal from special term, Queens county. Action by the Isle of Wight Co. against Frederick H. Smith, Jr. Plaintiff appeals from an order sustaining a demurrer to the complaint.
1Opinion of the CourtDykman, J.
This is an action brought to procure the cancellation and surrender of certain securities for the payment of a usurious loan made by the defendant to the plaintiff. The defendant demurred to the complaint, and had judgment in his favor in the court below, from which the plaintiff has appealed. We find no principle which will justify a recovery in this action. The plaintiff is a corporation, and could not interpose the defense of usury in any action brought to enforce the payment of the loan. Chapter 172, Laws 1850. As, therefore, the interposition of such a defense would be unsuccessful, it…
2Cases cited2 opinions
- Curtis and Others v. . LeavittNew York Court of Appeals · 1857
- Southern Life Insurance and Tr. Co. v. . Packer PrenticeNew York Court of Appeals · 1858
3Cited by3 opinions
- Davidson Oil Country Supply Co., Inc. v. Klockner, Inc.Court of Appeals for the Fifth Circuit · 1990
- Consolidated Jewelers, Inc. v. Standard Financial CorporationCourt of Appeals for the Sixth Circuit · 1963
- macQouid v. EstatesAppellate Division of the Supreme Court of the State of New York · 1911