Mutual Benefit Loan & Building Co. v. Lynch
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, the Mutual Benefit Loan and Building Company, from a judgment of the Supreme Court in favor of the defendant Mary E. Lynch, entered in the office of the clerk of the county of Kings on the 10th day of January, 1900, upon the decision of the court, rendered after a trial at the Kings County Special Term.
Read the full summary
Appeal by the plaintiff, the Mutual Benefit Loan and Building Company, from a judgment of the Supreme Court in favor of the defendant Mary E. Lynch, entered in the office of the clerk of the county of Kings on the 10th day of January, 1900, upon the decision of the court, rendered after a trial at the Kings County Special Term. The action was brought to foreclose a mortgage, and the judgment dismissed the complaint upon the merits and ordered the cancellation of the bond and mortgage.
1Opinion of the Court
Goodrich, P. J.:
The plaintiff is the holder of a bond and mortgage of $500, executed by the defendant Mrs. Lynch upon a house and lot in Brooklyn. This action is brought to foreclose the mortgage, and the answer states that the bond and mortgage are void for usury. The court dismissed the complaint on that ground, and the plaintiff appeals. ■ :
The plaintiff was incorporated in 1893,, under article 5. of the Banking Law (Chap. 689, Laws of 1892). There have been amendments of this article but they do not affect the present controversy.
Article 5 provides for the incorporation of building and…
2Cases cited5 opinions
- Condit v. . BaldwinNew York Court of Appeals · 1860
- Concordia Savings and Aid Ass'n v. . ReadNew York Court of Appeals · 1883
- People Ex Rel. Fairchild v. . PrestonNew York Court of Appeals · 1894
- Guggenheimer v. . GeiszlerNew York Court of Appeals · 1880
- Eagle Savings & Loan Co. v. SamuelsAppellate Division of the Supreme Court of the State of New York · 1899
3Cited by4 opinions
- Roberts v. Murray, New York County Courts1903
- Coggeshall v. Sussman, New York County Courts1903
- Garvey v. New York Building Loan Banking Co.Appellate Division of the Supreme Court of the State of New York · 1901
- Hickey v. DixonNew York Supreme Court · 1903