Tucker v. Fouts

Citations

• 73 Fla. 1215

Syllabus

<p>1. If a third person in order to get some benefit for himself, or for any personal reasons, without the knowledge or consent of the borrower, pays a lender a bonus as an inducement for a loan, the borrower receiving the full amount and paying no part of the bonus and not affected pecuniarily thereby, the transaction is not an usurious one.</p> <p>1</p> <p>2. If a borrower promises to pay, or is in anywise obligated to pay a bonus or any part thereof for a Toan, which bonus is paid or promised to be paid by a third party as any consideration for the loan, and the amount so paid or promised to be paid for which the borrower is in anywise liable, is in itself, on in addition to any interest paid or promised to be paid, more than the rate of interest which the statutes of Florida allow to be charged, collected or received, the transaction is usurious. ,</p> <p>3. When 'a defendant sets up usury as a defense, the burden of proof is on him to establish it; but when the usury is proven the burden of proving that the holder of usurious paper purchased it before maturity without notice of the usury, is upon the party relying on such purchase.</p>