Leipziger v. Van Saun
New Jersey Court of Chancery
Ou bill to foreclose a mortgage on land. On final Rearing on pleadings and proofs taken before a master. Defence, usury, by reason whereof nothing was due at the date of the filing of the bill.
1Opinion of the Court
Pitney, V. C.
The bill, filed August 3d, 1901, is based upon a bond and mortgage, dated January 2d, 1901, to secure $24,000 in one year, with interest payable semi-annually. The bond contains what is *38called the thirty-day clause, whereby if the interest is not paid at maturity or within thirty days, thereby the whole principal sum becomes due.
The bill does not set forth this clause in the bond, neither in words nor by its purport and effect. It simply describes, in the usual phraseology, a bond and mortgage to secure $24,000 in one year, with interest payable semi-annually; nor does it allege…
2Cited by7 opinions
- Ferdon v. Zarriello Bros. Inc.New Jersey Superior Court Appellate Division · 1965
- Derechinsky v. EpsteinNew Jersey Court of Chancery · 1925
- Marneil Realty Corp. v. Twin Brook Realty Corp.New Jersey Court of Chancery · 1935
- Gilbert v. A. A. Clark & Co.Supreme Court of Iowa · 1919
- Colleran v. WallNew Jersey Court of Chancery · 1934
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