Kohler v. Smith
California Supreme Court
Appeal from the Tenth Judicial District. The cause was tried by the Court without a jury; from whose judgment defendant appealed. The plaintiff produced in evidence a promissory note from defendant to Daniel Olds, dated January 1st, 1851, payable two months after date, for $1000, with interest at the rate of eight per cent, per month; which was indorsed by Olds to the plaintiff.
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Appeal from the Tenth Judicial District. The cause was tried by the Court without a jury; from whose judgment defendant appealed. The plaintiff produced in evidence a promissory note from defendant to Daniel Olds, dated January 1st, 1851, payable two months after date, for $1000, with interest at the rate of eight per cent, per month; which was indorsed by Olds to the plaintiff. The plaintiff indorsed upon the note as follows:—“The within note is to run at the rate of five per cent, interest in place of eight per cent, per month. Jan. 15, 1851. (Signed) Henry Kohler.” The only question…
1Opinion of the CourtHeydenfeldt, Justice
The appellant complains, that he was charged with interest upon his note at the rate of five per cent, a month after it became due; and contends that his contract was only for that rate from the time he made the note up to its maturity; the act of 1850 gives interest at the rate of 10 per cent, a year for all moneys after they become due,—“where there is no.express contract in writing fixing a different rate of interest.”
This language is very explicit, and shows that the intention of the act was two-fold; first, that money demands after maturity should draw interest; and second, that they…
2Cited by14 opinions
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- Hubbard v. CallahanSupreme Court of Connecticut · 1875
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- Casey v. GibbonsCalifornia Supreme Court · 1902
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