Marshall v. Beeler

The opinion of the court was delivered by

Porter, J.:

The action was for the recovery of usurious interest. Plaintiff owned a large tract of land in Edwards county upon which defendant held mortgages securing notes past due, to the amount of $97,500. They entered into negotiations for an extension of the loan, and it was agreed that plaintiff should execute renewal notes and mortgages for $100,-000, bearing interest at 10 per cent; $2,500 of the amount to-constitute a bonus to defendant for extending the loan. This agreement was carried out, and subsequently plaintiff paid the loan-with…