Livingston Loan & Building Ass'n v. Drummond

Irvine, C.

The plaintiff in this action sought to foreclose a mortgage executed by Drummond and his wife to secure the payment of a bond for $2,000, bearing ten per cent interest. The defenses interposed were three: First, that the corporation was not legally organized; second, that Drummond was insane at the time of making the contract; third, usury. There was no finding by the trial court on the issues raised by the first defense; but the defense was wholly without merit and the appellant has no ground of complaint. It is provided by section 144, chapter 16, Compiled Statutes: “No body of…