In re Mesibovsky
Court of Appeals for the Second Circuit
This cause comes here upon an appeal taken by Felix Hessberg from an order of the District Court for the Southern District of New York, which adjudged that certain loans made by him to Joseph Mesibovsky, the bankrupt, were usurious.
Read the full summary
This cause comes here upon an appeal taken by Felix Hessberg from an order of the District Court for the Southern District of New York, which adjudged that certain loans made by him to Joseph Mesibovsky, the bankrupt, were usurious. The same order adjudged that Hessberg was a private banker, and that, therefore, under thd statutes of New York, the usury worked only a forfeiture of the interest; his claim against the bankrupt’s estate being held valid to the extent of the principal amount loaned. From this decision the trustee has taken a cross-appeal. • We need consider only the! appeal of…
1Opinion of the Court
DÁCOMBE, Circuit Judge
(after stating the facts as above). Hess-berg from time to time loaned money to the bankrupt, taking as security therefor assignments of various accounts due to the bankrupt from the latter’s customers. By agreement between lender and borrower the former was himself to send the invoices to the customers, and was to take practically the entire burden of collecting the accounts which were assigned to him. A more specific statement of what he undertook to do will be found infra in this opinion. For the money loaned the borrower was to pay the legal rate of interest 6 per…
2Cases cited2 opinions
- In re CanfieldCourt of Appeals for the Second Circuit · 1912
- In re FishelCourt of Appeals for the Second Circuit · 1912
3Cited by8 opinions
- Noteman v. WelchCourt of Appeals for the First Circuit · 1939
- General Motors Acceptance Corp. v. Mid-West Chevrolet Co.Court of Appeals for the Tenth Circuit · 1933
- In Re PrinceCourt of Appeals for the Second Circuit · 1937
- Stewart v. Boone County Trust Co.Missouri Court of Appeals · 1935
- In re Liberty Doll Co.District Court, S.D. New York · 1917
3 more not listed; retrieve them via the Exa API.