Star Ass'n v. Woods

The complainant is a building and loan association regularly organized under the laws of this State. The defendant, Woods, was a shareholder in the association, and, as such, borrowed from it $2,500. Thereafter he paid to it in monthly installments the premium charged for the loan, as well as interest upon it at the rate of six per cent, per annum. These payments he continued to make for a number of years, when he returned to the association the exact sum which he had originally received, and took up the note executed by him at the time of the loan. While thus its debtor, he at the same time…