Pacific Building Co. v. Spurrier
This text of 68 P. 1135 (Pacific Building Co. v. Spurrier) is published on Counsel Stack Legal Research, covering Oregon Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
This is a suit to foreclose a mortgage executed and delivered by Augusta M. Spurrier and husband to the plaintiff, a California building and loan corporation, to' secure a loan. In a suit by the same plaintiff against Hill, reported in 40 Or. 280 (67 Pac. 103), it was held that the contract which was on all fours with that sought to be enforced in this suit, was usurious under the laws of this state, and, within the doctrine of the Stanley and Houston cases (38 Or. 319 and 377), all payments made thereon should go in extinguishment of the loan.
This conclusion is decisive of this case, and the decree of the court below will therefore be reversed, and one entered here accordingly. Reversed.
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Cite This Page — Counsel Stack
68 P. 1135, 40 Or. 620, 1902 Ore. LEXIS 45, Counsel Stack Legal Research, https://law.counselstack.com/opinion/pacific-building-co-v-spurrier-or-1902.