Carter v. Moses
Illinois Supreme Court
Appeal from the Superior Court of Chicago. On the 30th day of January, 1861, Hiram P. Moses exhibited his bill in chancery, in the court below, against Eoswell Carter, Seth Wadhams, J. Young Seammon, and another.
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Appeal from the Superior Court of Chicago. On the 30th day of January, 1861, Hiram P. Moses exhibited his bill in chancery, in the court below, against Eoswell Carter, Seth Wadhams, J. Young Seammon, and another. The facts upon which relief is sought are substantially as follows : About the 2d of March, 1853, Moses and Wadhams borrowed from Carter the sum of $3,000, and gave their note therefor, payable to Carter or order six months after date, with interest at ten per cent., and at the same time, to secure the payment of that note, executed a deed of trust conveying certain real estate to…
1Opinion of the CourtChief Justice Walker
The conclusion is- irresistible, from, the pleadings and the evidence in this case, that the note for $2,367, given in March, 1855, was for the accruing interest on the notes for $3,000 and $1,500, computed at the rate of two per cent, per month to that date. It is urged by counsel for appellant that there is no technical usury in this tranasction, because, if this was the consideration of the note, it was given for past and not future forbearance of money. It is not deemed necessary to consider in this case whether such a distinction can be important in regard to penalties under the usury…
2Cases cited2 opinions
- Hadden v. InnesIllinois Supreme Court · 1860
- Safford v. VailIllinois Supreme Court · 1859
3Cited by5 opinions
- Tyler v. Massachusetts Mutual Life InsuranceIllinois Supreme Court · 1883
- Edgell v. HamCourt of Appeals for the Fifth Circuit · 1899
- Riddle v. RosenfeldIllinois Supreme Court · 1882
- Wheeler v. Mutual Reserve Fund Life Ass'nAppellate Court of Illinois · 1902
- Scroggin v. BrownAppellate Court of Illinois · 1884