Engle v. Shurts
Michigan Supreme Court
Appeal from the Court of Chancery. Shurts, on 20th April, 1843, ■filed his bill in the court of chancery to foreclose a mortgage executed to him by Engle, deceased, in August, 1839. Defendants, by their answer, admitted the mortgage, but insisted it was usurious. A replication was filed to the answer, and testimony was taken by defendants to prove- the usury.
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Appeal from the Court of Chancery. Shurts, on 20th April, 1843, ■filed his bill in the court of chancery to foreclose a mortgage executed to him by Engle, deceased, in August, 1839. Defendants, by their answer, admitted the mortgage, but insisted it was usurious. A replication was filed to the answer, and testimony was taken by defendants to prove- the usury. The chancellor was of opinion the usury was established by the proofs, and on 25th June, 1845, made a decree in favor of Shurts for the money actually loaned only, with interest. Fromthi* decree defendants appealed.
1Opinion of the Court
By the cowt,
Miles, J.
It is insisted by the aj>pellants that the usury is proved, and that it is equitable that the appellee have a decree only for the amount of the mortgage, after deducting not only the amount of the usury, but also the penalty under R. S. 1838, p. 161, sec. 5, that being the law in force when the contract was made.
But before this bill was filed, that part of the statute imposing the penalty for taking .usurious interest, was repealed, without reservation or saving clause. Sess. L. 1843, p. 54. In such case the penalty is gone. *1511 Wash. C. C. Rep. 84; 1 Binney 601; 3 Burr.…
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