Case: Wycoff versus Longhead
Abbreviation: Wycoff v. Longhead
Decision Date: 1785
Docket Number: 
Citation: 2 Dall. 92
Volume: 2
Reporter: United States Reports
Court: Supreme Court of Pennsylvania
Jurisdiction: Pennsylvania
Parties: Wycoff versus Longhead.
Judges: 
Pages: 92–92

Head Matter:
Wycoff versus Longhead.
This cause was tried on the 26th September, 1785.

Opinion:
THIS was an a action on a promissory note; to which the defendant pleaded the act of Assembly against usury; and thereupon the following points were ruled by the Court, in their charge to the Jury.
1st. That where more than leg I interest was included in any note, bond, or specialty, the whole amount could not be sued for and recovered: But the plaintiff was entitled, in such case, to a verdict for the just principal and lawful interest.
2d. That if a man, directly, or indirectly, actually receives more than fix per cent, he incurs a forfeiture equal to the money &c. lent; but if an action is brought to recover the amount of the loan, a verdict ought not to be given for the defendant, as that would, in effect, be putting the money into his pocket, instead of working a forfeiture to the Commonwealth.
3d. That a man may, bona fide, purchase any security for the payment of money, at the lowest rate he can, without incurring the penalties of usury.