Pond v. Wilber

3 Sarat. Ch. Sent. 4 Court N.Y. Ch. Decision date 1843-02-21 English

Contents

Majority

p. 4

Elias Pond v. Joshua Wilber et al.

Headnote

Usury.

Selling mortgage afd¡hsoounT.sonat

S. Stevens, for appellant; G. H. MuMEoRb, for respondents.

Decided that whére ⅜ Person> uPon applying t0 another for a loan of mo-ney» agrees to procure the bond and mortgage of a third person, and sell it to the lender at a discount, after guarantying the payment thereof, such agreement is not usurious or illegal.

Decree appealed from affirmed With costs.