Guardian Mutual Life Insurance v. Kashaw
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court in the second judicial department reversing a judgment in favor of plaintiff entered upon the report of a referee, and granting a new trial. This action was brought to foreclose a mortgage executed by defendants, Elenor Kashaw and her husband, to the Mutual Protection Life Insurance Company, plaintiff’s assignor, to secure a bond given for a loan of $7,000. The facts appear in the opinion.
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Appeal from order of the General Term of the Supreme Court in the second judicial department reversing a judgment in favor of plaintiff entered upon the report of a referee, and granting a new trial. This action was brought to foreclose a mortgage executed by defendants, Elenor Kashaw and her husband, to the Mutual Protection Life Insurance Company, plaintiff’s assignor, to secure a bond given for a loan of $7,000. The facts appear in the opinion. To constitute usury there must be a corrupt intent, and a receiving of more than legal interest by the lender. (Condit v. Baldwin, 21 N. Y., 219;…
1Opinion of the CourtRapallo, J.
The referee" found, as matter of fact, that the mortgagor agreed to give for the loan a bonus of $3,000 by the assignment of eight small mortgages, but that such bonus was agreed to be given to Newel W. Bloss and Frederick W. Caruthers; that the small mortgages were assigned to B. G. Bloss, who was second vice-president of the mortgagee, and father of Newel W. Bloss. But the referee refused to find that B. G. Bloss acted in relation to these small mortgages as and for the mortgagee, and he also refused to find that the assignment of the small mortgages was for the benefit of the mortgagee.,
Upo…
2Cases cited2 opinions
- Condit v. . BaldwinNew York Court of Appeals · 1860
- Lee v. ChadseyNew York Court of Appeals · 1866
3Cited by6 opinions
- Hammelburger v. Foursome Inn Corp.New York Court of Appeals · 1981
- Jordan v. HumphreySupreme Court of Minnesota · 1884
- Van Wyck v. . WattersNew York Court of Appeals · 1880
- Wood v. BabbittU.S. Circuit Court for the District of New Jersey · 1907
- Terminal Bank v. DubroffNew York Supreme Court · 1910
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