[Download] "Charles M. Drew v. Skeena Lumber Company" by Supreme Court of Minnesota * eBook PDF Kindle ePub Free
eBook details
- Title: Charles M. Drew v. Skeena Lumber Company
- Author : Supreme Court of Minnesota
- Release Date : January 16, 1930
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 67 KB
Description
Transaction was a usurious loan. 1. Plaintiff indorsed a note of the Skeena Lumber Company, Ltd. for $22,500, a Canada corporation then adjudged a bankrupt in the proper court of that dominion, got a contract from the corporation to pay the note as it came due, obtained a bond with respondent as surety to secure the performance of the contract, and then negotiated the note at a bank, receiving $2,500 for his compensation. The finding is supported that the transaction was in its character and purpose a loan by plaintiff to the lumber company of $20,000 at eight per cent with a bonus to plaintiff of $2,500, hence usurious.
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