McArthur v. Schenck
Wisconsin Supreme Court
APPEAL from tbe Circuit Court for Bode County. Action by Henry G. McArthur against Gyrus Schench and bis wife, Mary S. Schench, to foreclose a mortgage for $2,500, executed by tbe defendants to tbe plaintiff, October 1st, 1869, to secure two notes of $1,250 each, made tbe same day by Gyrus Schench, payable to plaintiff’s order on tbe 1st of October in tbe years 1874 and 1875, respectively, with interest at tbe rate of ten per cent, payable annually.
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APPEAL from tbe Circuit Court for Bode County. Action by Henry G. McArthur against Gyrus Schench and bis wife, Mary S. Schench, to foreclose a mortgage for $2,500, executed by tbe defendants to tbe plaintiff, October 1st, 1869, to secure two notes of $1,250 each, made tbe same day by Gyrus Schench, payable to plaintiff’s order on tbe 1st of October in tbe years 1874 and 1875, respectively, with interest at tbe rate of ten per cent, payable annually. Tbe case made by tbe answer and tbe findings of tbe court is voluminous and complicated; but tbe facts upon wbicb tbe judgment of tbis court is…
1Opinion of the Court
Tbe following opinion was filed at tbe June term, 1872.
DtxoN, C. J.
It is a concession fairly due to tbe evidence, we think, that there was reserved and taken by tbe plaintiff upon the loan for wbicb tbe notes and mortgage in suit were given, tbe sum of thirty dollars usury. Such usury was received by tbe plaintiff, or paid to him, by being deducted from tbe sum agreed to be loaned, making the sum actually loaned $2,470, instead of $2,500 as represented by tbe notes and mortgage. Such deduction was exacted by tbe plaintiff at tbe time of the loan.
It is likewise a concession equally due to tbe…
2Cases cited2 opinions
- Bridge v.HubbardMassachusetts Supreme Judicial Court · 1818
- Bearce v. BarstowMassachusetts Supreme Judicial Court · 1812
3Cited by9 opinions
- Martyn v. LeslieCalifornia Court of Appeal · 1955
- State ex rel. Ornstine v. CaryWisconsin Supreme Court · 1905
- Pushee v. JohnsonSupreme Court of Florida · 1936
- Tucker v. FoutsSupreme Court of Florida · 1917
- Zang v. SchumannWisconsin Supreme Court · 1952
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