Case Name: Bennett vs. Hadsell
Court: New Jersey Court of Chancery
Jurisdiction: New Jersey
Decision Date: 1872-05
Citations: 23 N.J. Eq. 174
Docket Number: 
Parties: Bennett vs. Hadsell.
Judges: 
Reporter: New Jersey Equity Reports
Volume: 23
Pages: 174–174

Head Matter:
Bennett vs. Hadsell.
1. The mortgage being given for $800, when, by agreement, only $700' was advanced, is usurious. The amount actually advanced only can be recovered, without interest or costs.
2. The assignee, even without notice of usury, takes subject to that defence. '
Submitted on written briefs, upon pleadings and proofs.
Mr. T. S. Mitchell, for complainant.
Mr. F. F. Westcott, for defendant.

Opinion:
The Chancellor.
The evidence in this case shows clearly that Hadsell agreed to pay C. H. Bennett $100 for his services in getting the money for which the mortgage was given. C. H. Bennett advanced the money himself, the mortgage was given to him, and he retained $100 of the $800, for which the mortgage was given. This is usury. The assignee, even without notice of the usury, takes subject to that defence.
Let there bé a decree for $700, without interest or costs.