Badalow v. Bogosoff

The bill hérein was filed to foreclose two real estate mortgages, given by defendants, dated October 2, 1920, for $3,500, due in six months, with interest at 7% after maturity, and November 9, 1920, for $1,500, due April 2, 1921, with interest at 7% after maturity. Defendants admit giving the mortgages but claim plaintiff exacted a bonus of $500 out of the first loan and $250 out of the second, and set up the defense of usury. This issue of fact, upon which defendants had the' burden of proof, was tried out and the circuit judge found the usurious charges were made and awarded plaintiff a…