Blindman v. Industrial Loan & Thrift Corp.

1 Reported in 266 N.W. 455, 267 N.W. 143. Defendant appeals from the judgment.

The action was brought by the plaintiffs, the makers of the promissory note hereinafter described, to set aside and cancel the note on the ground of usury and to recover certain collateral securities transferred to the defendant as security for the payment of the note. The defendant denied that there was any usury and counterclaimed for the balance due on the note, the note having been reduced by certain collections made on the collateral securities held by defendant. The note is dated December 18, 1931, and matured…