Chicago Fire Proofing Co. v. Park National Bank

Citations

• 145 Ill. 481

Syllabus

<p>1. Parties—suit on a note in the hands of a reveiver. After the appointment of a receiver for an insolvent national bank, the receiver may maintain an action on a note payable to the bank, either in the name of the bank or in his own name, as he may elect, or an action may be brought in the name of the bank for the use of the receiver.</p> <p>2. Usury—commissions for procuring a loan. The fact that the president of a bank enters into an agreement in his individual capacity, by which he is to secure a commission above the legal rate of interest, on a loan by his bank, when the bank has nothing to do with the agreement and receives no part of the money so paid by the borrower as commissions, will not establish usury on the part of the bank.</p> <p>3. Judgment by Confession—motion to vacate—affidavits construed —of their sufficiency. On an application of a defendant to vacate a judgment by confession, and for leave to plead to the action, affidavits filed in support of the motion are to be construed most strongly against him. It is not sufficient to state facts, from which, if proved on a trial, a defense may be inferred.</p>