Katz v. Fischel

The admitted promise to pay the plaintiff $500 in consideration of the loan of 2,400 reichmarks was not shown to be usurious under the law of Germany, where the transaction took place. Nor was there any evidence that the loan was made in Germany in order to avoid the law of usury prevailing in this State. *590Under the circumstances, the mere fact that repayment was to be made in this State furnishes insufficient basis for invalidating the loan as illegal under our usury statutes. (66 C. J. p. 150, § 21; Id. p. 151, § 22; Bank of Georgia v. Lewin, 45 Barb. 340; Hooley v. Talcott, 129 App. Div.…