Allroggen v. A. C. Carter & Northeast Investment Co.

Action to cancel for usury a note and real estate mortgage and to annul the foreclosure of the mortgage. After trial without a jury, plaintiffs appeal from the order denying their motion for a new trial.

Note and mortgage were executed June 15, 1923. Defendant corporation was the mortgagee. On the same day plaintiff Morris Allroggen signed an application to defendant for the loan. It fixed the interest rate at ten per cent, the then legal maximum, and bound plaintiffs to pay in addition a commission of eight per cent and all the expenses. One Davis was acting as broker for plaintiffs.…