Meaker v. . Fiero
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the fifth judicial department, entered upon an order made March 27, 1894, which affirmed a judgment in favor of defendant entered upon the report of a referee. The nature of the action and the facts, so far as material, are stated in the opinion.
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Appeal from judgment of the General Term of the Supreme Court in the fifth judicial department, entered upon an order made March 27, 1894, which affirmed a judgment in favor of defendant entered upon the report of a referee. The nature of the action and the facts, so far as material, are stated in the opinion. The contract or agreement under and pursuant to which the mortgage in suit was given, was not a contract for the loan or forbearance of money, and it is essential to constitute usury that there be, in effect and intent, a loan or forbearance of money. ( U. D. S. Inst. v. Wilmot, 94 N.…
1Opinion of the Court
Andrews, Ch. J.
This action was brought for the foreclosure of a mortgage for $800, executed by the defendant, Nancy A. Fiero, to Samuel Stokes, the plaintiff’s testator, dated May 28, 1886, and acknowledged May 29, 1886, to secure the payment of a bond of the mortgagor of the same date and amount in five years thereafter, "with annual interest. The defense was usury. This defense was sustained by the referee before whom the action was tried, and the judgment entered upon his report has been affirmed by the General Term. The alleged usury consists in the payment by the mortgagor to the…
2Cited by27 opinions
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- Grannis v. . StevensNew York Court of Appeals · 1916
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