Goodwin v. Bishop

Citations

• 145 Ill. 421
• 34 N.E. 47

Syllabus

<p>1. Usury—paying commission to the agent malting the loan. A party borrowing $5,000, for which sum. he gave his notes, paid to the agent who procured the loan $125, without the knowledge of the lender, which sum was not paid for his use: Held, that such payment did not render the loan usurious.</p> <p>2. Same—paying attorney's fee for examining title to land mortgaged. Where a party borrows a sum of money, for which he gives his note secured by deed of trust for the full amount, and by his direction $50 is paid to the attorneys for an examination of the title to the property mortgaged, such payment will not render the transaction usurious.</p> <p>3. Same—ró defense to a hill to foreclose—sufficiency of answer. On bill to foreclose a deed of trust, made to secure a principal note of $5,000 given for the loan of that sum, the defendants in their answer alleged, “that they did not, nor did either of them, receive the full sum of $5,000 from said complainant, at the time of making such loan, nor at any time, nor did they receive any money at the date of said notes and trust deed, and so these respondents say that the amount claimed by said complainant is largely tainted with usuryHeld, that conceding the allegations of the answer to be true, it by no means followed that the contract was usurious.</p> <p>4. If a party to a bill in equity desires to set up and rely on the defense of usury, he must allege the facts showing wherein the usury consists. A general charge of usury in an answer is not sufficient.</p> <p>5. Mortgage—allowing attorney's fee on foreclosure. Where a deed of trust contains a provision that in case of suit or proceedings to foreclose, the proceeds of sale shall, among other things, be applied to pay an attorney’s fee of five per cent upon the amount received, the court, on foreclosure, will be justified in allowing a solicitor’s fee of five per cent on such amount.</p> <p>6. Chancery—computing interest subsequent to master's report. Where interest h