55 Iowa 555 | Iowa | 1881
The plaintiff resides in Ohio. The defendant procured one Francis Pike to correspond with Smith and procure for him the loans, and agreed to pay Pike on the first loan a commission of one per cent, and on the second loan a commission of one and one-half per cent. Pike had been in the habit of procuring’ loans for parties in Iowa from the plaintiff The plaintiff was unwilling to make the loans without a personal examination of the securities offered and of the titles, and required that his traveling expenses from Ohio to Iowa and return should be paid. Pike agreed to pay and did pay these traveling expenses, amounting on "the first trip to $50, and upon the second trip to $45. Pike claimed that he paid these traveling expenses out of his commission. The defendant claims that he paid the traveling expenses in addition to commissions. It is claimed that the payment of these commissions and traveling expenses. renders the transaction usurious.
Affirmed.