Moers v. American Exchange National Bank
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, The American Exchange National Bank, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on the 15th day of August, 1923, granting plaintiff’s motion to strike out the answer of the defendant and directing judgment for the plaintiff for the amount of the penalty provided in the National Bank Act for the taking of usury, and also from the judgment entered in said…
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Appeal by the defendant, The American Exchange National Bank, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on the 15th day of August, 1923, granting plaintiff’s motion to strike out the answer of the defendant and directing judgment for the plaintiff for the amount of the penalty provided in the National Bank Act for the taking of usury, and also from the judgment entered in said clerk’s office on the 21st day of August, 1923, pursuant to said order. The motion was noticed under rules 103, 104 and 109 of…
1Opinion of the Court
McAvoy, J.:
Judgment was ordered on the pleadings and affidavits in favor of the plaintiff herein. The answer was struck out and declared sham and frivolous. The suit in which this judgment was entered was based upon the National Bank Act which permits a person who has paid a greater rate of interest than is allowed by law upon a note, bill or other evidence of debt, to recover back, in an action in the nature of an action of debt, twice the amount of the interest thus paid from any banking association taking or receiving the same when the taking, receiving or charging at a greater rate of…
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