Merrimack Loan Co. v. Theodorou

On August 6, 1930, the defendant obtained a loan from the plaintiff, who held a license from the bank commissioner to make small loans in accordance with the provisions of section 1 of chapter 269 of the Public Laws. The loan was evidenced by a promissory note for three hundred dollars, payable in monthly installments of thirty dollars, with interest at the rate of three per cent a month. This note was signed by the defendant and his brother, Louis Theodorou. The present action was commenced on September 11, 1939. After January 12, 1932, the defendant made no payment on the loan or otherwise…