Meredith v. Cabell

The appellee, Mrs. Alice B. Cabell, and her husband, who is now dead, were the makers of promissory notes aggregating $10,200, secured by deeds of trust on realty. The payee of the notes endorsed them to the appellant, Maurice M. Meredith.

In this suit the loan transaction was attacked as usurious. The District Court found Meredith was not, as he claimed, a holder in due course for value without notice, but that he had actually and knowingly lent the money to the Cabells and had used the payee as an intermediary to avoid the usury statute, § 28-2703, D.C.Code 1951. It was also found that…