Cohen v. Mansi

Mai/tbie, C. J.

This is an action to foreclose a mortgage upon real property made to secure a note for $24,000. The defendants rest their contention upon the fact that the amount actually loaned was $19,000, the balance of the note consisting of a bonus of $4000 and a commission of $1000 for making the loan. Our statute against usury expressly exempts “any bona fide mortgage of real property for a sum in excess of five hundred dollars.” General Statutes, 1918, § 4803, now § 4737 of the Revision of 1930. The classification in the statute by which such mortgages are exempted from its operation…