Gardner v. Ruffner
Supreme Court of Alabama
Appeal from Circuit Court, Lowndes County; A. E. Gamble, Judge. Bill by Rosanna Gardner and another against J. B. Ruffner and others for an accounting and the cancellation of certain mortgages and for an injunction restraining foreclosure of said mortgage. From a judgment for the defendants, plaintiffs appeal. The bill as originally filed sought an accounting and cancellation because of payments and usury, havingjfully paid the mortgage.
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Appeal from Circuit Court, Lowndes County; A. E. Gamble, Judge. Bill by Rosanna Gardner and another against J. B. Ruffner and others for an accounting and the cancellation of certain mortgages and for an injunction restraining foreclosure of said mortgage. From a judgment for the defendants, plaintiffs appeal. The bill as originally filed sought an accounting and cancellation because of payments and usury, havingjfully paid the mortgage. When it transpired that the mortgage securities bad been transferred, the bill was amended and sought to redeem from the series of mortgages. When I-I. H.…
1Opinion of the CourtSomerville, J.
[1,2] Where a broker through whom a loan of money is negotiated is not the agent of the lender, his reservation of commissions for himself, over and above the legal rate of interest, with or without the knowledge of the lender, does not taint the transaction with usury. George v. N. E. M. Security Co., 109 Ala. 548, 20 South. 331. Nor does such a reservation have that effect even where the broker is the agent of the lender, unless it is made with the knowledge of the lender, or unless the lender derive some benefit therefrom in addition to the lawful interest he is entitled to charge. Ginn v.…
2Cases cited18 opinions
- Fowler v. Equitable Trust Co.Supreme Court of the United States · 1891
- Hall & Brown Woodworking Machine Co. v. Haley Furniture & Mfg. Co.Supreme Court of Alabama · 1911
- Lewis v. HickmanSupreme Court of Alabama · 1917
- Stein v. SwensenSupreme Court of Minnesota · 1891
- Bank of Newport v. CookSupreme Court of Arkansas · 1895
13 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Moore v. WilliamsonSupreme Court of Alabama · 1925
- Abbeville Live Stock Co. v. WaldenSupreme Court of Alabama · 1923
- Rudisill Soil Pipe Co. v. Eastham Soil Pipe & Foundry Co.Supreme Court of Alabama · 1923
- Citizens' Bank v. HeywardSupreme Court of South Carolina · 1925