Koven v. Kline

The appellant applied for and obtained from the corporation of which the respondent is receiver a loan of $1,000, to be repaid in fifty weekly installments of $20 each. The appellant insists that he was compelled to pay a bonus of $100 in connection *308with this loan, but the record establishes that the $100 was the consideration for the legitimate transfer to him of ten shares of stock of the corporation. When the loan was made the appellant received checks totalling $1,000; he paid to the corporation an investigation fee, $60 in cash as discount of six per cent interest in advance for one…