Kroll v. Windsor

Loevinger, Justice.

Suit for recovery of money loaned, plus interest, in which usury is asserted as a defense.

Defendant sought a loan of $2,000 from the plaintiff. About the same time, plaintiff transferred certain lots to a third party for $3,900, concurrently .signing a contract for deed to repurchase the same lots in 6 months for $4,850, plus 5-percent interest. Out of this $3,900, plaintiff loaned $2,000 to defendant upon an agreement that defendant should repay $2,450 in 6 months, plus 5-percent interest.

When defendant failed to repay plaintiff, suit was brought for $2,450 plus interest…