Watts v. National Building & Loan Ass'n
Court of Appeals of Kentucky
Case 5 — PETITION EQUITY APPEAL FROM JEFPEBSON CIRCUIT COURT, LAW AND EQUITY DIVISION. 1. The arrangement, entered into by the appellant and appellee was merely a device for the purpose of evading the usury laws; the laiw will purge such transactions of usury without regard to what may he 'their form. Tyler on Usury, p.p. 324, 361, 362, 364 and 365; Endlich on Building and Loan Associations, secs. 357 and '358; Amer. & Eng.
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Case 5 — PETITION EQUITY APPEAL FROM JEFPEBSON CIRCUIT COURT, LAW AND EQUITY DIVISION. 1. The arrangement, entered into by the appellant and appellee was merely a device for the purpose of evading the usury laws; the laiw will purge such transactions of usury without regard to what may he 'their form. Tyler on Usury, p.p. 324, 361, 362, 364 and 365; Endlich on Building and Loan Associations, secs. 357 and '358; Amer. & Eng. Erne, of Law, vol. 27, under head of “Usury;” Shanks v. Stevens, 4 Ky. Law Rep.; Herbert v. Kenton Building a/nd Loan Association, 11 Bush; Gordon v. B. & L. Ass’n, 12…
1Opinion of the Court
JUDGE HAZELRIGG
delivered ids opinion op the court.
'While the contract involved here is one with a building and loan association, it was made before the general law as to such associations was enacted, and, therefore, a construction of that law is not now before us.
The appellee was the owner of a house and lot in Louisville, Ky., which it sold to R. A. Watts, the testator of ap-pellee, for the sum of $7,500, of which the sum of $1,500 was paid down. The agreement for the future payments is as follows: “This indenture, made and entered into this 1st day of January, 1892, by and between the…
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- Day v. KellyMontana Supreme Court · 1915
- Williams v. Eagle BankCourt of Appeals of Kentucky · 1916
- Sublett v. Mobile & Ohio Railway Co.Court of Appeals of Kentucky · 1911
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