Ludwig Hammelburger v. Foursome Inn Corp.

Summary

The Court held that a mortgagor’s estoppel certificate can waive the defense of criminal usury unless the certificate was obtained under duress or the assignee knew of the usurious nature of the loan, and that summary judgment was improper because material factual issues remained. The order granting summary judgment and declaring the mortgage void was reversed and the case remanded for further proceedings.