Stark v. Bauer Cooperage Co.

DENISON, Circuit Judge.

An impecunious but optimistic speculator, who finds a property for sale at such, a bargain price that he sees a profit of 200 per cent, if he eould buy it and hold it awhile, hurries to a moneyed friend, explains the situation, and says, “if you will buy this from the present owner, and then sell it to me on five years’ credit, I Will buy it of you at au advance of one-third over what you pay, and make my interest-hearing purchase contract and notes for that total sum.” The friend agrees, and it is done. Later the buyer concludes that the transaction was a usurious loan…