Foley v. Equitable Investment Co.

Citations

• 267 Pa. 514
• 110 A. 239
• 1920 Pa. LEXIS 901

Syllabus

<p>Interest — Usury—Partnership — Corporation — Set-off — Judgment on note of corporation covering usurious interest of partnership.</p> <p>Where a partnership owing money to an individual on a contract involving usurious interest, becomes incorporated, and the obligations of tbe partnership are assumed by the corporation, which gives a judgment note to the creditor, covering the debt owing by the partnership, and also debts owing by the corporation itself, the corporation cannot, on an issue to try the amount due on the judgment entered on the note, claim credits for usurious interest paid by the partnership.</p>