Browne v. . Vredenburgh
New York Court of Appeals
Appeal from the ¡New York Superior Court. This action was brought to obtain a reconveyance of a house and lot and a reassignment of certain letters patent, which had been conveyed to the defendant’s intestate under . an agreement by which said intestate loaned to the plaintiff the sum of $1,000, which the plaintiff was to repay with lawful interest, and in consideration of which loan the said intestate was also to have a certain interest in the profits of a business to be…
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Appeal from the ¡New York Superior Court. This action was brought to obtain a reconveyance of a house and lot and a reassignment of certain letters patent, which had been conveyed to the defendant’s intestate under . an agreement by which said intestate loaned to the plaintiff the sum of $1,000, which the plaintiff was to repay with lawful interest, and in consideration of which loan the said intestate was also to have a certain interest in the profits of a business to be carried on by the plaintiff'. There was also an agreement on the part of the defendant that he would protect the said…
1Opinion of the CourtAllen, J.
The agreement in pursuance of which the original defendant, now deceased, loaned to the firm (plaintiffs) $1,000, receiving as security for its repayment a-conveyance of the house and lot on Bedford avenue, Brooklyn, and an assignment of certain letters patent, was, within well settled principles, usurious.
The defendant stipulated for the payment of interest upon the sum loaned at the legal rates, and for a contingent profit and advantage in excess of the sum allowed by law to be received or taken. The borrower agreed that the lender should receive quarterly one-fourth of the profits of the…
2Cases cited4 opinions
- Cleveland v. LoderNew York Court of Chancery · 1839
- Cole v. SavageNew York Court of Chancery · 1844
- Sumner v. . the PeopleNew York Court of Appeals · 1864
- Williams v. . FitzhughNew York Court of Appeals · 1868
3Cited by24 opinions
- Shropshire v. Commerce Farm Credit Co.Texas Supreme Court · 1930
- Shropshire v. Commerce Farm Credit Co.Texas Supreme Court · 1931
- Bochicchio v. PetrocelliSupreme Court of Connecticut · 1940
- Tyng v. . Commercial Warehouse Co.New York Court of Appeals · 1874
- Blue Wolf Capital Fund II, L.P. v. American Stevedoring, Inc.Appellate Division of the Supreme Court of the State of New York · 2013
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