Moseley v. Brown
Supreme Court of Virginia
Appeal from the decree of chancery court of Richmond city in suit of William P. Moseley, trustee, &c., against William E. Sparrow and others. In February, 1875, Moseley made his note for $1,200, payable at one year, and placed it in the hands of Brown, a broker, to raise money on it. Brown sold the note to Sparrow for $1,056, who knew nothing of the purposes for which it was made. When the note fell due, Moseley paid Sparrow, through Brown, the interest at 12 per cent.
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Appeal from the decree of chancery court of Richmond city in suit of William P. Moseley, trustee, &c., against William E. Sparrow and others. In February, 1875, Moseley made his note for $1,200, payable at one year, and placed it in the hands of Brown, a broker, to raise money on it. Brown sold the note to Sparrow for $1,056, who knew nothing of the purposes for which it was made. When the note fell due, Moseley paid Sparrow, through Brown, the interest at 12 per cent. ($144), to prevent collection. A year later he paid a like sum for the like purpose. In February, 1878, he made a new note…
1Opinion of the CourtBurks, J.
Two propositions are clearly established by the facts certified as proved on the trial of the issue in this case.
1. Upon these facts, there was no usury in the notes held by the Sparrows or in the deeds of trust given to secure them. The proof is, that the notes were made by Moseley, trustee, for the purpose of raising money. They were endorsed by him in blank, and put into the hands of a broker for sale on the maker’s account, and ' were purchased from the broker by the Sparrows without any knowledge on their part of the purpose for which they were made. According to the repeated decisions…
2Cases cited6 opinions
- Wheaton v. HibbardNew York Supreme Court · 1822
- Thomas v. ShoemakerSupreme Court of Pennsylvania · 1843
- Briggs v. ThompsonNew York Supreme Court · 1822
- Clarkson's adm'r. v. GarlandSupreme Court of Virginia · 1829
- Brummel & Co. v. Enders, Sutton & Co.Supreme Court of Virginia · 1868
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3Cited by20 opinions
- State v. General Daniel Morgan Post No. 548West Virginia Supreme Court · 1959
- State v. General Daniel Morgan Post No. 548West Virginia Supreme Court · 1959
- Barbour v. TompkinsWest Virginia Supreme Court · 1906
- Harper v. Building Ass'nWest Virginia Supreme Court · 1904
- Nickels v. Kane's Adm'rSupreme Court of Virginia · 1886
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