Troutman v. Barnett
Supreme Court of Georgia
Certiorari, in Crawford Superior Court. Decided by Judge Stark, February Term, 1850. John F. Troutman purchased a judgment against one Arthur F. Walker and Samuel B. Barnett. In order to secure indul•gence thereon, Walker executed to Troutman his note for fifteen dollars; afterwards, the judgment was renewed — Walker and Barnett giving to Troutman their notes for the principal and interest due thereon.
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Certiorari, in Crawford Superior Court. Decided by Judge Stark, February Term, 1850. John F. Troutman purchased a judgment against one Arthur F. Walker and Samuel B. Barnett. In order to secure indul•gence thereon, Walker executed to Troutman his note for fifteen dollars; afterwards, the judgment was renewed — Walker and Barnett giving to Troutman their notes for the principal and interest due thereon. Troutman brought suit upon the notes, in a Justice’s Court in Crawford County, against the defendant, who filed a plea of usury to the same. . On the trial, the Jury returned a verdict for the…
1Opinion of the Court
By the Court.
Nisbet, J.
delivering the opinion.
[1.] Under the British Statutes of usury, it has been firmly settled, that to defeat a contract on the ground of usury, it must *31have been usurious at the time the debt or demand was created thereby. No subsequent reservation of usurious interest, or posterior arrangement for a usurious security, will taint or invalidate the original claim. Under the English Statutes, such subsequent security will be infected with usury, and the penalty is incurred. But if the original contract be pure, it remains so, and is a valid contract in whosesoever hands it…
2Cases cited2 opinions
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3Cited by7 opinions
- Bank of Lumpkin v. Farmers State BankSupreme Court of Georgia · 1926
- West v. DorseySupreme Court of Georgia · 1982
- McGehee v. PetreeSupreme Court of Georgia · 1928
- Culbreath v. MartinSupreme Court of Georgia · 1907
- Public Finance Corporation v. StateCourt of Appeals of Georgia · 1942
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