Smith v. American Life Insurance & Trust Co.

The Vice Chancellor.

Upon presenting the bill in this case, an order was made for the defendants to shew cause why an injunction should not issue pursuant to the prayer thereof. The parties appear and show cause. The bill states, substantially, that the complainant loaned of the defendants the sum of $65,000, at an usurious rate of interest. The securities for this loan were,

1. A mortgage by the complainant to the defendants, for the sum of $40,000.

2. A like mortgage for the sum of $50,000.

3. A mortgage executed by the complainant to Henry J. Graman, for the sum of $6,000, and assigned to the…