53 Vt. 539 | Vt. | 1881
The opinion of the court was delivered by
The deeds of July 1st and 2d, 1870, and the lease of the last date, are to be construed together, as constituting one transaction, and thus construed, are in legal effect a mortgage of the premises conveyed from the plaintiff to the testator to secure the repayment of $2600 then loaned the plaintiff by the testator. The rent reserved in the lease was twelve per centum on the sum loaned, and usurious. The usury being reserved in, and stipulated for, by the contract for security when paid by the plaintiff, was a payment on the original debt, with interest computed thereon at six per centum, as held in Wells v. Robinson and Wife, at the General Term, 1880.
The judgment of the County Court is affirmed, and ordered to be certified to the Probate Court.
Ante, 202.