Lawrence E. Brown, as Substituted Trustee Under the Will of Agnes H. Robinson, Deceased, Respondent v. Charles A…

Summary

The New York Court of Appeals reversed the Appellate Division’s judgment that the transfers from George Hyatt Robinson to Eagle Insurance Company were usurious loans and void, affirming the Special Term’s finding that the transfers were sales. The Court held that a lender may deduct actual and anticipated expenses from the loan amount and that there is no presumption of usurious intent; the party alleging usury bears the burden of proof.