Goodowsky v. Rubenstein
Massachusetts Supreme Judicial Court
Contract on a promissory note for $200 made by the defendant Rubenstein to the order of himself and indorsed in blank by that defendant and by the defendant Rogers. Writ in the Municipal Court of the City of Boston dated November 2, 1915. The answer set up, among other defences, “that the plaintiff charged a rate of interest in violation of law and that the said transaction was illegal and void.”
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Contract on a promissory note for $200 made by the defendant Rubenstein to the order of himself and indorsed in blank by that defendant and by the defendant Rogers. Writ in the Municipal Court of the City of Boston dated November 2, 1915. The answer set up, among other defences, “that the plaintiff charged a rate of interest in violation of law and that the said transaction was illegal and void.” At the trial in the Municipal Court it appeared that interest was paid on the loan in excess of twelve per cent per annum and that at the time the loan was made the plaintiff was not licensed to…
1Opinion of the CourtRugg, C. J.
This is an action of contract between the original parties to the instrument to recover upon a promissory note for $200. There was evidence tending to show that interest in excess of twelve per cent was charged and paid. The defence is that the loan is in violation of the small loans act.
It is provided by St. 1912, c. 675, § 5, that, “Whoever not being duly licensed . . . engages in or carries on, directly or indirectly, either separately or in connection with or as a part of any other business, the business of making loans ... to which the provisions of this act apply, shall be punished. . .…
2Cited by7 opinions
- Commonwealth v. DouglasMassachusetts Supreme Judicial Court · 1968
- Commonwealth v. WhiteMassachusetts Supreme Judicial Court · 1927
- Dane v. BrownCourt of Appeals for the First Circuit · 1934
- Commonwealth v. SovrenskyMassachusetts Supreme Judicial Court · 1929
- Grossman v. Boston Red Sox Baseball Club Ltd. Partnership (In Re Platt)United States Bankruptcy Court, D. Massachusetts · 2003
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