John Hancock Mut. Life Ins. Co. v. Davis

RICE, Chief Justice.

Elizabeth M. Davis, a widow, and another, brought this suit against John Hancock Mutual Life Insurance Company, alleging as a basis of recovery, that two promissory notes payable to defendant were tainted with usury. One note was for the principal sum of $2,500, was dated January 18, 1924, and bore annual interest at the rate of 6½ per cent per annum; the other was for the principal sum of $2,000, was dated January 28, 1927, and bore interest at 6 per cent per annum. Each note was secured by a deed of trust of even date, and each deed of trust contained the following…