Robinson v. Cropsey
New York Court of Chancery
This was an appeal from a decree of the vice chancellor of the first circuit; and the only question was whether the agreement mentioned in the bill constituted a- mortgage or a conditional sale. The facts appear from the report of the case before the vice chancellor, (2 Edw. Ch. Rep. 138.)
1Opinion of the Court
The Chancellor.
There is frequently great diificulty in ascertaining whether a contract was intended by the parties as a mortgage or a conditional sale; and as a general rule, where the agreement is made upon an application for the loan; of money, the court,- for the purpose of preventing *481usury and extortion, will construe the agreement to be a mortgage in case the person to whom the application for the loan is made agrees to receive back his money and interest, or a larger sum, and to reconvey the property within a specified time thereafter, whatever form the writings may be put in, if the…
2Cited by11 opinions
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- Brown v. DeweyNew York Supreme Court · 1847
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