Anderson v. Oregon Mortgage Co.
Idaho Supreme Court
APPEAL from the District Court, Latah County. The Idaho statute does not make a contract void because of containing usury. (Poodneuf Lodge v. Western L. & 8. Co., 6 Idaho, 673, 59 Pac. 362.) It simply takes away from the lender all his interest and makes the borrower pay ten per cent per annum on the entire amount of the original contract to the school fund, and this irrespective of the rate of interest contracted for in the usurious contract.
Read the full summary
APPEAL from the District Court, Latah County. The Idaho statute does not make a contract void because of containing usury. (Poodneuf Lodge v. Western L. & 8. Co., 6 Idaho, 673, 59 Pac. 362.) It simply takes away from the lender all his interest and makes the borrower pay ten per cent per annum on the entire amount of the original contract to the school fund, and this irrespective of the rate of interest contracted for in the usurious contract. Usury is personal, and in the contracting debtor alone, and when property is purchased subject to, or the purchaser assumes and agrees to pay the…
1Opinion of the CourtSullivan, J.
— This action was brought for the cancellation of a mortgage, to recover judgment for $793.34 for over-payments on said mortgage, and for $100 damages for a failure to satisfy and cancel said mortgage. The plaintiffs to this action, who are respondents here, were not parties to said mortgage, and the mortgagors are not parties to this suit. The following facts appear from the record. On the eleventh day of September, 1889, John S. Eandolph (being then the owner of the land described in said mortgage) executed jointly with his wife a mortgage on said land to secure the payment of $2,000,…
Also in this document: Concurrence.
2Cases cited16 opinions
- Burke Land & Livestock Co. v. Wells, Fargo & Co.Idaho Supreme Court · 1900
- Stevens v. Home Savings & Loan Ass'nIdaho Supreme Court · 1898
- Vermont Loan & Trust Co. v. HoffmanIdaho Supreme Court · 1897
- Fidelity Savings Ass'n v. SheaIdaho Supreme Court · 1899
- Green v. TurnerSupreme Court of Iowa · 1874
11 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Knowles v. New Sweden Irrigation DistrictIdaho Supreme Court · 1908
- Ford v. Washington National Building & Loan Investment Ass'nIdaho Supreme Court · 1904
- Blackfoot State Bank v. CrislerIdaho Supreme Court · 1911
- Frost v. Pacific Savings Co.Oregon Supreme Court · 1902
- Madsen v. WhitmanIdaho Supreme Court · 1902