Lindsay v. United States Savings & Loan Co.
Supreme Court of Alabama
Appeal from the Chancery Court of Jefferson. Heard before the Hon. John C. Carmichael. The hill in this ca-se was filed by the appellant, Henrietta -A. -'Lindsay, against the United States Savings & Loan Company.
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Appeal from the Chancery Court of Jefferson. Heard before the Hon. John C. Carmichael. The hill in this ca-se was filed by the appellant, Henrietta -A. -'Lindsay, against the United States Savings & Loan Company. The bill averred that the complainant had negotiated -and -consummated a loan with the defendant, which was a building -and loan association, and to secure this loan, the complainant; together with her husband, executed to said defendant a mortgage upon certain specifically described real estate; and that this loan was made in the manner that was usual to the making of loans by…
1Opinion of the CourtShaepe, J.
Prior to the adoption of the present Code the statutes relating to interest and usur'y declared with reference to usurious contracts that they “cannot he enforced except as to the principal.” Accordingly in suits for the enforcement of such contracts wherever the defense of usury ha-s been -set up and -sustained, courts of equity as well as of law have constantly refused assistance to the suitor except upon the assumpticm that the principal exclusive of all interest constituted the entire debt. The provision, however, was newer construed as interfering with the equitable principle 'which…
2Cases cited3 opinions
- Pearson v. BaileySupreme Court of Alabama · 1853
- Dudley v. SteeleSupreme Court of Alabama · 1882
- Turner v. Merchants BankSupreme Court of Alabama · 1899
3Cited by22 opinions
- Joseph P. Ruth, Sometimes Also Known as J. P. Ruth v. The Eagle-Picher Company, a CorporationCourt of Appeals for the Tenth Circuit · 1955
- Lewis v. Annie Creek Mining Co.South Dakota Supreme Court · 1951
- Lewis v. HickmanSupreme Court of Alabama · 1917
- Bassett v. City Bank & Trust Co.Supreme Court of Connecticut · 1932
- Fuller v. American Supply Co.Supreme Court of Alabama · 1914
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