Mosher v. Randall — 52 N.Y. 649

Majority

p. 649

John Mosher, Respondent, v. Charles M. Randall, Executor, etc., Appellant.

(Argued February 28, 1873;

decided April 17, 1873.)

Headnote

This was an action upon a promissory note of $4,000, made payable in New York, indorsed by defendant’s intestate and discounted by plaintiff for the maker. The defence was usury. The proceeds were paid by draft on New York, less the current rate of exchange. Plaintiff had agreed to give the maker a line of discount to the amount of the note, and it was discounted under the arrangement. The proceeds of paper subsequently discounted were paid in like drafts upon which exchange was charged, but the referee found that this was not a device for obtaining more than legal interest, and gave judgment for plaintiff. Held, no error, upon authority of Marvine v. Hymers ( 12 N. Y., 223 ).

p. 650

Henry E. Selden for the appellant.

Henry Heelcer for the respondent.

reads for affirmance.

All concur, except Allen, J., not voting. Judgment affirmed.