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Judgment Search Results Home > Cases Phrase: the usurious loans act 1918 Sorted by: old Year: 1858


White Water Valley Canal Company Vs. Vallette

Court : US Supreme Court

Decided on : Jan-01-1858

..... that a certain gain exceeding the legal rate of interest should accrue to the lender as a consideration for the loan. where there is no loan, there can be no usury. state bank v. coquillard, 6 ind. 232 and where there is a loan, although the profit derived to the lender exceeds the legal rate, yet if that profit is contingent or uncertain, the ..... a mortgage, and enforced according to the intention of the contracting parties. bonds issued in payment for the completion of the canal were not usurious by the laws of indiana, although they purport to be for a loan and although the sum for which they were issued was largely greater than the estimated cost of the work. the power to issue these ..... , in this instance there is "full power" specially conferred to negotiate any loan or loans that the company might deem expedient for carrying out any or all of the objects of the act. we should find great difficulty in deciding that the corporation was restrained by the laws concerning interest and usury, in view of the comprehensive language of the 18th section of the ..... act. those laws rest upon considerations of policy applicable, for the most part, to .....

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