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LANGILLE v. CENTRAL-PENN NAT. BANK OF PHILADELPHIA

153 A.2d 211 (1959)

Clyde W. LANGILLE and Jennie Langille, Plaintiffs, v. CENTRAL-PENN NATIONAL BANK OF PHILADELPHIA, a corporation of the United States of America, Defendant.

Court of Chancery of Delaware, New Castle.

July 8, 1959.

Attorney(s) appearing for the Case

John S. Walker and Frank J. Miller, Wilmington, for plaintiffs.

H. James Conaway, Jr., of Morford, Young & Conaway, Wilmington, for defendant.

SEITZ, Chancellor.

The plaintiffs seek to have discharged a bond and mortgage executed by the plaintiffs and held by the defendant, Bank, on the ground that the party through whom the defendant acquired the bond and mortgage in effect made a usurious loan. The defendant has moved for summary judgment and this is the decision thereon.

No material facts are in dispute. On May 29, 1953, Washington Lumber and Millwork Co. ("Washington") and Barco, Inc. ("Barco...

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