Burnhisel v. Firman
Supreme Court of the United States
Appeal from the Supreme Court of the Territory of Utah. Firman, assignee of Wright, a bankrupt, filed a bill in the court below against Burnhisel, to set aside a mortgage given by the said Wright, before his bankruptcy, to the said Burnhisel, the bill alleging that the mortgage was void under the Bankrupt Act. The case was thus: Wright executed three promissory notes, each payable “in one year from date with interest at 25 per cent.”
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Appeal from the Supreme Court of the Territory of Utah. Firman, assignee of Wright, a bankrupt, filed a bill in the court below against Burnhisel, to set aside a mortgage given by the said Wright, before his bankruptcy, to the said Burnhisel, the bill alleging that the mortgage was void under the Bankrupt Act. The case was thus: Wright executed three promissory notes, each payable “in one year from date with interest at 25 per cent.” The first, dated March 26th, 1866, was to Burnhisel, and for $2450. The second, dated May 9th, 1866, was to Pond, and for $951. The third, dated May 26th, 1867,…
1Opinion of the CourtJustice Swayne
I. The bases of the calculation of interest made by Bnrnhisel and Wright were wrong, and the result was the aggregate amount of the two notes of April 26th, 1872, which was a sum much too large. Burnhisel was then entitled,
1st. To the face of the two original notes to him, with 25 per cent, interest upon each for one year, and the lawful rate of interest of the Territory where no rate is specified down to the date of the settlement; and,
2d. To the face of the note to Pond with the like lawful rate of interest after its maturity down to the same period. † The implication of the “ act relative…
2Cases cited5 opinions
- United States v. BabbitSupreme Court of the United States · 1862
- The United States, in Error v. Phineas Bradley, Surviving Administrator of David Ott DeceasedSupreme Court of the United States · 1836
- Rice v. Welling & FakeNew York Supreme Court · 1830
- Crippen v. HeermanceNew York Court of Chancery · 1841
- Loomis v. HudsonSupreme Court of Iowa · 1865
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- New Orleans v. WarnerSupreme Court of the United States · 1899
- Holden v. Trust Co.Supreme Court of the United States · 1879
- Agency of Canadian Car & Foundry Co. v. American Can Co.Court of Appeals for the Second Circuit · 1919
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