Cuneo v. Bornstein

This is an appeal by the defendant Glickman from a final decree ordering the cancellation of certain notes, executed by the plaintiffs, for money loaned in violation of the small loans act, G. L. c. 140, § 96, and declaring that the notes were wholly void.

It was found by the master that Glickman was a holder in due course; that he purchased the notes in question for $700, which was a fair price, and that he was ignorant of “the circumstances under which the Realty Investment Company purchased the notes or the price which it paid for them.”

G. L. c. 140, § 96, prohibits one from engaging in the…