Stoney v. American Life Insurance
New York Court of Chancery
This was an appeal, from an order of the vice chancellor of the first circuit, denying an application, of the defendants, to dissolve the injunction which had been issued in this cause; and also denying their application that the complainants should give security for the costs and damages which might result from the delay .caused by such injunction.
1Opinion of the Court
The Chancellor.
The claim to relief, in this bill, is based upon the supposition that the agreement between Davis and the American Life Insurance and Trust Company, for the loan of the certificates of the company, w.as usurious; and that the complainants, who subsequently assumed the payment of the *636amount of' these trust certificates, which Davis had received from the company, are in a situation to take advantage of the supposed usury. I doubt whether the necessary averments, as to the probable difference in exchange between London and New-York at the times when the principal and' interest…
2Cited by27 opinions
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- Farmers & Mechanics' Bank v. Butchers & Drovers' BankNew York Court of Appeals · 1857
- Supervisors v. SchenckSupreme Court of the United States · 1867
- Merrick v. . Van SantvoordNew York Court of Appeals · 1866
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