Sharpe v. Reed

In the instant case the issue turns upon the question of whether or not the contracts herein for the loan of money have been purged of the usury therein charged 'and collected.

The defendant in error, Mabel Reed, instituted suit against Fred P. Sharpe, doing business as Ace Loan Company, for the recovery of usury. The judgment of the lower court was in her favor and the loan company now seeks 'a review of the same in this court.

It appears from the record and admissions of counsel that a series of usurious loans were made by the loan company to Mrs. Reed. The sole and only defense presented by…