Burton v. Baker
New York Supreme Court
MOTION for a new trial, upon a bill of exceptions. The complaint contained four causes of action. The first stated that one David Babcock, on the 9th of February, 1855, made, executed and delivered to Hawley J. Goodwin, his note, of which the following is a copy: “ Utica, Feb. 9, 1855. $500. One year from date, I promise to pay Hawley J. Goodwin, or bearer, five hundred dollars, with interest, value received, payable at the Bank of Utica. David Babcock."
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MOTION for a new trial, upon a bill of exceptions. The complaint contained four causes of action. The first stated that one David Babcock, on the 9th of February, 1855, made, executed and delivered to Hawley J. Goodwin, his note, of which the following is a copy: “ Utica, Feb. 9, 1855. $500. One year from date, I promise to pay Hawley J. Goodwin, or bearer, five hundred dollars, with interest, value received, payable at the Bank of Utica. David Babcock." That afterwards, and on the 15th of February, 1855, in consideration that one David Burton would purchase the note of the defendant, who was…
1Opinion of the Court
By the Court, Pratt, J.
If the question in this case was an open one, I should have no difficulty in arriving at the conclusion that the transaction was tainted with usury.
The leading case of Cram v. Hendricks (7 Wend. 569) was based upon assumed principles that I never was able to comprehend. If the court had held, simply, that the sale of a valid pre-existing note or bill, although indorsed or guarantied by the seller, was not essentially a loan of money to him, hut rather the sale of a chattel and therefore not usurious, the proposition would at least have been intelligible. But the court…
2Cases cited3 opinions
- Cram v. HendricksCourt for the Trial of Impeachments and Correction of Errors · 1831
- O'Neale v. LongSupreme Court of the United States · 1807
- Cobb v. TitusNew York Supreme Court · 1852
3Cited by3 opinions
- Brownell v. . WinnieNew York Court of Appeals · 1864
- McVean v. ScottNew York Supreme Court · 1866
- Taylor v. AcomCourt Of Appeals Of Indian Territory · 1898