Hopkins v. Otto

This appeal is from a decree dismissing a suit to enforce a mortgage lien, the note and mortgage being for $1,500.00 due in three years with interest at 8% per annum payable semi-annually. Usury was a defense. A commission of $75.00 was paid from the amount of the note to an employee in the lender’s office which the Chancellor in effect held was in the nature of a bonus to the lender. Only $1,425.00 was received by the borrower, even if the lender should not have paid a charge of $30.00 for title insurance on the mortgaged property.' Foreclosure was begun at the end of two years under the…