O'Neil v. Cleveland

The bill in this case was filed to foreclose a mortgage. The defence is usury, under the statutes of this state. The face of the mortgage is $2,225, and was given for money borrowed, payable three years after the date of the mortgage, with interest payable semi-annually.

It is conceded that the borrower, in fact, received but $1,891.25, the deduction having been fifteen per cent, from the amount for which the mortgage was given. It appears that O’Neil, the mortgagor, requested one Davis to procure for him the loan. Davis applied to one of the executors of the estate of Cleveland, deceased, for…