1787-11-08 (static/transcriptions/1787/11/092.jpg)

benefit of Commerce to which Usury is destructive.
The 13 Geo: 3d having adopted the very words of the Stat: of Qu: Ana cases on that stat: may properly be quoted.
In Cowper 112 – Floyer v Edwards.
Ld Md says, “that Stat: of Qu: Ann prohibits taking above 5 per cent &c and all contracts for any loan of money, goods &c bearing Int: pr Ct are null & void – and then he goes on thus –
This is a case on the original contract, by which the payment of the Principal is stipulated; and therefore, if it is within the statute of usury at all, the contract itself is void. It depends principally upon the contract being a loan: and the statute uses the words directly or indirectly.” Therefore in all questions in whatever respect repugnant to the statute, we must get at the nature and substance of the transaction: the view of the parties must be ascertained, to satisfy the court that there is a loan and borrowing.
In like manner the qu: here is whether this be a loan or not. He then reads part of the Defts affidavit respecting