People's Bank v. Hamilton Manufacturing Co.
New York Court of Chancery
This was an appeal by H. F. Sewall from a decision of the vice chancellor of the fifth circuit, denying the appellant’s application to become a party to this suit, and for permission to come in and make a defence to the same. The bill was filed in April, 1842, to foreclose a mortgage given to the complainant in July, 1839, by the Hamilton Manufacturing Company, the only defendant in the suit.
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This was an appeal by H. F. Sewall from a decision of the vice chancellor of the fifth circuit, denying the appellant’s application to become a party to this suit, and for permission to come in and make a defence to the same. The bill was filed in April, 1842, to foreclose a mortgage given to the complainant in July, 1839, by the Hamilton Manufacturing Company, the only defendant in the suit. A notice of the pendency of the suit, and of the object thereof, was duly filed in the clerk’s office of the county where the mortgaged premises were situated. The defendant appeared and answered the…
1Opinion of the Court
The Chancellor.
The order of the vice chancellor denying the appellant’s application in this case was right, for various reasons. Independent of the fact that the contract or loan, upon which the defendant’s bond and mortgage were given, was made in Massachusetts, and therefore not affected by the usury laws of this state, there is no specification of the nature of the alleged usury in the petition, so as to give the officers of the bank an opportunity to deny what is only stated in general terms, upon information and belief. And they have in fact denied the charge of usury, so far as it was…
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