Eagle Savings & Loan Co. v. Beakey
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendants, Henry E. Beakey and another, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Kings on the 10th day of July, 1913, upon the decision of the court after a trial at the Kings County Special Term. Judgment affirmed, with costs, on the opinion of Mr. Justice Blackmar at. Special Term. J enks, P. J., Burr, Cárr, Rich and Stapleton, J J., concurred.
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Appeal by the defendants, Henry E. Beakey and another, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Kings on the 10th day of July, 1913, upon the decision of the court after a trial at the Kings County Special Term. Judgment affirmed, with costs, on the opinion of Mr. Justice Blackmar at. Special Term. J enks, P. J., Burr, Cárr, Rich and Stapleton, J J., concurred. The following is the opinion of the court below:
1Opinion of the Court
Blackmar, J.:
The contract relation between the plaintiff and defendant was authorized by the statutes of the State of New York. This included the payment by the defendant of a bonus of $950 on his loan and an additional one per cent upon the first mortgage without violating the Usury Law. His agreement was to pay installments upon the shares subscribed for by him until such time as such installments together with the dividends allotted to him by the company should equal the amount of the shares subscribed for, and that when the shares subscribed for were fully paid they should be applied to…
2Cases cited4 opinions
- Vought v. Eastern Building & Loan Ass'nNew York Court of Appeals · 1902
- Nellis v. . Western Life Indemnity Co.New York Court of Appeals · 1913
- Neuman v. New York Mutual Savings & Loan Ass'nAppellate Division of the Supreme Court of the State of New York · 1897
- People's Building, Loan & Saving Ass'n v. PlatzAppellate Division of the Supreme Court of the State of New York · 1901
3Cited by3 opinions
- Ronca v. Wendell & Evan Co.Appellate Division of the Supreme Court of the State of New York · 1914
- Sogn v. Eagle Savings & Loan Co.Appellate Division of the Supreme Court of the State of New York · 1917
- Wareham v. Eagle Savings & Loan Co.Appellate Division of the Supreme Court of the State of New York · 1918