106 N.J. Eq. 11 | N.J. Ct. of Ch. | 1930
The mortgage sought to be foreclosed in this suit was given by the defendant Melroy Construction Company. The only answering defendant is Florence R. Chernoff, a subsequent mortgagee who holds two mortgages, one for $11,000 and one for $2,300, both of which are expressly subject to the mortgage now being foreclosed. By her answer she sets up the defense of usury. The motion is to strike the answer and the availability of the defense of usury to this subsequent mortgagee-defendant is the only question which need now be decided. It is conceded that, as the mortgagor is a corporation, the defense is not available to it; but it is claimed on the authority of Berk v. Isquith Productions, Inc.,
As the assertion in the defendant's answer that her mortgage is prior to that of the complainant depends upon the availability of the defense of usury to this defendant, that part of the answer also falls and the entire answer will be stricken. *13