Heffner v. Brownell
Supreme Court of Iowa
Appeal from, Buchanan District Court. — Hon. John J. Ney, Judge. , Action upon a promissory note. The answer set up that the note was usurious, and that fifteen dollars of usurious interest was actually paid to the plaintiff. There was a trial by jury, and a verdict and judgment against the plaintiff, and he appeals.
1Opinion of the CourtRothrock, J.
The transaction alleged to be usurious originated with the execution of a promissory note by defendant to plaintiff in the year 1874 for the *649sum of three hundred dollars. Payments of interest were made on this note from time to time, and in 1884 a payment of principal was made, and a renewal note in the sum of two hundred dollars was executed. This suit was brought on this last note. The first note drew interest at the rate of ten per cent, per annum. The interest on the note in suit was at the rate of eight per cent, per annum. ' The usury as claimed by defendant consisted in the alleged…
2Cases cited1 opinion
- Schultz v. CremerSupreme Court of Iowa · 1882
3Cited by2 opinions
- Farmers Savings Bank v. Burr Forbes & SonSupreme Court of Iowa · 1911
- National House Importing Co. v. NovakSupreme Court of Iowa · 1895