Beadle v. Munson
Supreme Court of Connecticut
Assumpsit, against the defendant as indorser of two promissory notes ojf $500 each, made by one George Roberts. The defense was usury. The notes were dated and payable in the city of New York.
Read the full summary
Assumpsit, against the defendant as indorser of two promissory notes ojf $500 each, made by one George Roberts. The defense was usury. The notes were dated and payable in the city of New York. On the trial to the jury in the superior court, before Waldo, J., the defendant claimed, and introduced evidence to prove, that the plaintiff discounted the notes for Roberts, the maker, when they had about two months to run, for the sum of twenty-five dollars each, which he retained as interest. The defendant also offered in evidence the statute of the state of New York, from which it appeared that all…
1Opinion of the CourtHinitan, C. J.
The only question in this case arises upon that part of the charge in which the jury were told that a charge of commission beyond the legal rate of interest, for the trouble of discounting a note, or procuring a loan of money, was not usury, provided it be a fair and reasonable compensation. The facts to which the charge applied are very similar to the facts in the case of Hutchinson v. Hosmer, 2 Conn., 341, where the same doctrine was expressly sanctioned by this court. And that such is the law of Connecticut is admitted by counsel, as it certainly ought to be after this express decision,…
2Cases cited3 opinions
- Merritt & Myers v. BentonNew York Supreme Court · 1833
- De Forest v. StrongSupreme Court of Connecticut · 1831
- Hutchinson v. HosmerSupreme Court of Connecticut · 1817
3Cited by6 opinions
- Liskey v. SnyderWest Virginia Supreme Court · 1904
- Acheson v. ChaseSupreme Court of Minnesota · 1881
- Santoro v. OsmanSupreme Court of Connecticut · 1961
- First Nat. Bank of Ada v. PharesSupreme Court of Oklahoma · 1918
- Manchester Realty Co. v. KanehlSupreme Court of Connecticut · 1944
1 more not listed; retrieve them via the Exa API.