Saylor v. Daniels
Illinois Supreme Court
Appeal from the Superior Court of Chicago. This was an action of assumpsit brought at the January term, 1864, upon a promissory note to which was set up the defence of usury. The material facts appear in the opinion of the court.
1Opinion of the CourtJustice Lawrence
This was an action brought by Daniels against Saylor upon a promissory note, to which Taylor pleaded usury. It was proven that $400 had been first loaned at 15 per cent, interest, and payments made from time to time, and new notes given, all in continuation of one transaction, the note sued on being the last. The payments made had been applied first in extinguishment of the interest, and then in reduction of the principal. The plaintiff had a verdict for $277.32.
The court below refused to apply upon the existing note the payments formerly made upon the usurious interest. This was error. While…
2Cases cited1 opinion
- Hadden v. InnesIllinois Supreme Court · 1860
3Cited by16 opinions
- Johnson v. GraysonSupreme Court of Missouri · 1910
- Gladwin State Bank v. DowMichigan Supreme Court · 1920
- Illinois Steel Co. v. O'DonnellIllinois Supreme Court · 1895
- Harris v. BresslerIllinois Supreme Court · 1887
- New England Mortgage Security Co. v. AugheNebraska Supreme Court · 1882
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