Cheney v. Woodruff
Nebraska Supreme Court
Appeal from the district court of Pawnee county. Tried below before Weaver, J. The two cases were substantially the same and were argued together. The actions in the court below were for the foreclosure of mortgages given to secure the payment of five notes for §70.00 each, due respectively in one two, three, four, and five years from their date. The defense was usury, and that the notes were given as a bonus to secure the loan of §500 at ten per cent interest.
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Appeal from the district court of Pawnee county. Tried below before Weaver, J. The two cases were substantially the same and were argued together. The actions in the court below were for the foreclosure of mortgages given to secure the payment of five notes for §70.00 each, due respectively in one two, three, four, and five years from their date. The defense was usury, and that the notes were given as a bonus to secure the loan of §500 at ten per cent interest. A decree was rendered below in each case in favor of defendants, and plaintiff appealed.
1Opinion of the CourtGantt, J.
The defendant, B. Woodruff, obtained a loan of five hundred dollars through the plaintiff and one B. E. Per*152kins, to secure which he executed notes and mortgage to Byron Murray, Jr., and at the same time the defendant gave to the plaintiff the notes and mortgage in controversy in this action. This action is brought to foreclose the last mentioned mortgage; and the defendant pleaded that the only consideration of the notes and mortgage was a bonus upon the loan, and that the same is usurious. The court below sustained the defense and dismissed the cause of action, and the case is brought here…
2Cases cited1 opinion
- Nebraska Railway Co. v. LettNebraska Supreme Court · 1879
3Cited by4 opinions
- Olmsted v. New England Mortgage Security Co.Nebraska Supreme Court · 1881
- Cheney v. EberhardtNebraska Supreme Court · 1879
- Gardner v. RuffnerSupreme Court of Alabama · 1921
- Sherwood v. RoundtreeU.S. Circuit Court for the Southern District of Georgia · 1887