Caldwell v. Commercial Warehouse Co.
New York Supreme Court
Appeal from an order dissolving an injunction. The action was brought by Josiah Caldwell against The Commercial Warehouse Company of Sew York.
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Appeal from an order dissolving an injunction. The action was brought by Josiah Caldwell against The Commercial Warehouse Company of Sew York. The case was this: Defendant, by its charter, .as amended by § 7 of Laws of 1871, chap. 278, was empowered to loan money and to receive securities and take the “ management, charge or custody ” thereof, “ upon such terms and for such commissions, in addition to interest, as shall be stipulated and agreed upon by and between the said company and the parties receiving the loan or advance as aforesaid.” It appears by the complaint that plaintiff procured…
1Opinion of the CourtDavis, P. J.
It is not necessary in determining this appeal that the court should pass upon the question whether or not the several agreements between the parties do not bear upon their face conclusive evidence of violations of the statute against usury. The complaint avers (and the answer denies) that the contracts in relation to commissions were designed to be, and were, mere covers for usury, the intent being, on the one hand, to pay, and, on the other, to exact and receive a greater rate of interest than that allowed by law. A fair issue of fact for a jury, or for the court, if the issue be tried…
2Cases cited1 opinion
- White v. . StillmanNew York Court of Appeals · 1862