In re Sawyer

Citations

• 130 F. 384
• 1904 U.S. Dist. LEXIS 260

Syllabus

<p>1. Bankettptoy — Liens—Consideration fob Mortgage.</p> <p>Under Bankr. Act July 1, 1898, c. 541, § 67e, 30 Stat. 564 [U. S. Comp. St. 1901, p. 3449], which requires a “present fair consideration” to support a mortgage given within four months prior to bankruptcy, a mortgage securing notes for $1,500, bearing 6 per cent, interest, for which the consideration was a loan of $1,310, the remainder being for additional interest and bonus, will be sustained, where taken in good faith, but only to the extent of the money actually advanced, with interest.</p>