Scottish Court of Session Decisions

Subject_1 USURY.

M'Lellan
v.
Barclay

1727. February.
Case No. No. 30.

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In the year 1704, white annual-rent was at at six per cent. M'Lellan, for the sum of 4500 merks, sold some lands to Barclay, and of the same date took from him a tack of the same for 10 years, for £.120 of money rent, and 18 bolls victual, or 10 merks per boll, in the option of the tacksman, out of which tack-duty he was to advance the whole teind, being £.40 yearly, and half of the cess. There was a clause adjected of a reversion competent to the seller, during the years of the tack, upon re-payment of the foresaid sum of 4500 merks. It was objected against the contract, That it appeared to be but a covered loan, and that a tack-duty being made certain to the creditor exceeding the ordinary annual-rent, the bargain was usurious, and the disposition and tack null.

The Lords repelled the objection.—See Appendix.

Fol. Dic. v. 2. p. 500.