Edmonds v. Altman

Citations

• 89 Wash. 4
• 153 P. 1082
• 1915 Wash. LEXIS 988

Syllabus

<p>Usury — “Agents” of Lender — Penalties—Profits of Agent — Liability — Statutes. Where plaintiff purchased and accepted a note from brokers which was made payable directly to himself, without ever having dealt with the makers, the brokers are agents of the plaintiff, either by authority or ratification, within the meaning of Rem. & Bal. Code, § 6255, making a lender liable for penalties for usurious profits of an agent, and making any intermediary the lender’s agent when he acts for both parties; and hence he is liable for the penalty of the statute where the brokers, in dealing with the makers, deducted usurious commissions.</p>