[Download] "Charles M. Drew v. Skeena Lumber Company" by Supreme Court of Minnesota * eBook PDF Kindle ePub Free

June 20, 2021

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.