Pomplun v. Hudson

Defendants appeal from a judgment declaring a loan usurious, canceling the assignment of a note and mortgage securing the loan, and enjoining defendants from foreclosing the mortgage.

Plaintiff was the owner of a 160-acre farm in Stevens county, which by deed dated February 25, 1921, he conveyed to Edward Dutcher, who in consideration thereof executed three notes, aggregating $21,800, payable to the order of plaintiff and secured by three mortgages on the farm. Only the note for $12,000 secured by a first mortgage is here involved, the other two mortgages being subordinate thereto. This note…