Curtis v. Securities Acceptance Corporation

Plaintiff, Robert Curtis, brought this action in equity against defendants, Securities Acceptance Corporation, and Ray Mahoney, its alleged agent who carried on a business of selling farm implements in the name of “Mahoney Sales & Service” in St. Edward. Plaintiff’s action sought to have a certain promissory note and chattel mortgage upon a described tractor cancelled upon the ground that they were given for a loan which was null and void ab initio as usurious and in violation of sections 45-114 to 45-162, R. R. S. 1943, inclusive, which are known as the Installment Loan Act. Plaintiff also…