In re Canfield
Court of Appeals for the Second Circuit
Appeal from the District Court of the United States for the Southern District of New York. In the matter of Abram L. Canfield, bankrupt. Brota an order confirming a report of the special master and ordering reassignment of accounts (190 Bed. 266), William H. Burden appeals.
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Appeal from the District Court of the United States for the Southern District of New York. In the matter of Abram L. Canfield, bankrupt. Brota an order confirming a report of the special master and ordering reassignment of accounts (190 Bed. 266), William H. Burden appeals. On appeal from an order of the District Court in bankruptcy confirming a report of the special master and ordering that William I-I. Burden within five days reassign. certain accounts to Clarence S. Houghton, receiver in bankruptcy. The following agreement was entered into between the bankrupt and William H. Burden, the…
1Opinion of the Court
COXE, Circuit Judge.
[1] The appellant contends that no testimony should have been taken showing that the parties intended to enter into a usurious contract, because the same contradicted the agreement of December 14th actually executed. We think that such testimony was admissible. The purpose of the usury law is to protect borrowers whose distress exposes them to be imposed upon. The debtor is always allowed to make this defense, notwithstanding that he thereby contradicts a written instrument, and so are his privies. Knickerbocker Insurance Co. v. Nelson, 78 N. Y. 137; Wilmarth v. Heine, 137…
2Cases cited6 opinions
- Bryan v. BernheimerSupreme Court of the United States · 1901
- Whitney v. WenmanSupreme Court of the United States · 1905
- In re KelloggCourt of Appeals for the Second Circuit · 1903
- Knickerbocker Life Ins. Co. v. . NelsonNew York Court of Appeals · 1879
- Mercantile Trust Co. v. GimbernatAppellate Division of the Supreme Court of the State of New York · 1909
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