McIntire v. Cagley
Supreme Court of Iowa
Appeal from, Page District Court. Tuesday, December 16. This action was brought upon a promissory note as follows: “$172.69. Clarinda, Iowa, November 12, 1872. “ Ninety days after date, for value received, we jointly and severally promise to pay to J. S. Mclntire, or order, the sum of $172.65, with interest from maturity, at the rate of ten per cent per annum, interest payable annually, payable at the First National Bank, Clarinda; and we agree also to pay an attorney’s fee…
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Appeal from, Page District Court. Tuesday, December 16. This action was brought upon a promissory note as follows: “$172.69. Clarinda, Iowa, November 12, 1872. “ Ninety days after date, for value received, we jointly and severally promise to pay to J. S. Mclntire, or order, the sum of $172.65, with interest from maturity, at the rate of ten per cent per annum, interest payable annually, payable at the First National Bank, Clarinda; and we agree also to pay an attorney’s fee of ten per cent if this note is collected by suit. “ (Signed) George Cagley.” The defendant made default, and the…
1Opinion of the CourtMiller, J.
The court below held that the stipulation in the note sued on, by which the maker agrees to pay “ an attorney’s fee of ten per cent,” on the amount of the note, was in the nature of a penalty to cover the expense of collecting the note by action, and therefore recoverable only to the extent of such actual expense which must be shown by evidence.
We have decided in a number of cases that it is competent for parties to written instruments for the payment of money to stipulate for the payment of a reasonable sum as an attorney’s fee where suit is brought to enforce payment of the money due on the…
2Cases cited7 opinions
- Tayloe v. T. & S. SandifordSupreme Court of the United States · 1822
- Foley v. McKeeganSupreme Court of Iowa · 1856
- Williams v. Dakin & BaconCourt for the Trial of Impeachments and Correction of Errors · 1839
- Bagley v. PeddieThe Superior Court of New York City · 1851
- McGill v. GriffinSupreme Court of Iowa · 1871
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3Cited by8 opinions
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- Peyser v. ColeOregon Supreme Court · 1883
- DeGraff, Vrieling & Co. v. WickhamSupreme Court of Iowa · 1892
- Joeckel v. JohnsonSupreme Court of Iowa · 1916
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