Crittenden v. Ragan
Crittenden v. Ragan
Opinion of the Court
delivered the opinion of the court.
We think the bill sufficiently avers usury as to the discount of the notes, and the double charges therefor on the amount advanced Fuller. The trust deed recitals, taken in conjunction with the averments of the bill, show that Crittenden discounted the notes, which were for advances to be made, and placed the amount to the credit of Fuller, and that afterwards, when the advances were made, again charged ten per cent per annum on such advances; and the demurrer admits all this to be true. The other charges about usury and fraud are not sufficiently specific. The appellees’ bill also clearly admits some sum to be due the appellants, and no tender is made of any amount whatever. It is true that the bill and cross-bill av.er that repeated demands
The decree is reversed, but the case is remanded, with directions to the court below to allow the bill to be amended and the cross-bill of the Geiss-Mann Hardware' Company also to be amended, so as to meet this rule, and so as, further, to more specifically and particularly set out the facts constituting the fraud and the other usury, beside the usury properly charged in the bill. Decreed accordingly.
Reversed and remanded.
Reference
- Full Case Name
- O. B. Crittenden v. Samuel C. Ragan
- Cited By
- 2 cases
- Status
- Published
- Syllabus
- 1. Pleadings. Usury. An averment that defendant discounted the note of his customer given for advances, placing the amount of the note, less the discount, to his credit, and in addition charged him ten per centum interest per annum — the maximum legal rate — on the cost price of the advances; sufficiently pleads usury. 2. Chancery Practice. Equitable relief. Tender. A hill in equity by a second mortgagee to vacate a sale made under a first mortgage, praying an accounting of the sum due 'on the first mortgage and a resale of the property without making any tender at all, although admitting some debt to he due to the first mortgagee, is not saved from a demurrer by a charge of unsuccessful demands on the first mortgagee for an itemized account of what was due him.