Daniel v. Gibson
Supreme Court of Georgia
Interest and Usury. Judgments. Merger. Before Judge Clarke. Talbot Superior Court. September Term, 1883. OmFebruary 16,1875, W. A. Daniel gave T. N. Gibson his note, as follows: “By the twenty-fifth day of December next, I promise to pay Thomas N. Gibson, or bearer, $1,166.62 for value received, with interest at the rate of 15 per cent from the twenty-fifth of December next, if not punctually paid.
Read the full summary
Interest and Usury. Judgments. Merger. Before Judge Clarke. Talbot Superior Court. September Term, 1883. OmFebruary 16,1875, W. A. Daniel gave T. N. Gibson his note, as follows: “By the twenty-fifth day of December next, I promise to pay Thomas N. Gibson, or bearer, $1,166.62 for value received, with interest at the rate of 15 per cent from the twenty-fifth of December next, if not punctually paid. This February 16, 1875.” Suit was brought on the note to the March term, 1877, of Talbot superior court; judgment, was rendered at the September term, 1877, for the principal sum sued for, with…
1Opinion of the Court
Jackson, Chief Justice.
The sole question made by this record is this: Does a judgment bear interest at the rate specified in the contract before judgment, if that rate be not beyond the per cent which the parties may legally contract for, or does it only bear that interest which all contracts carry if there be no rate stipulated for in the contract ?
At the time this contract was made, it was lawful for the parties to fix any rate of interest thereon, and fifteen per cent was agreed on. Code of 1873, §2051. Seven per cent was then, and is still, the lawful interest, if the rate be not changed…
2Cases cited2 opinions
- Brewster v. WakefieldSupreme Court of the United States · 1860
- Cauthen v. Central Georgia BankSupreme Court of Georgia · 1882
3Cited by14 opinions
- Central Bank & Trust Corp. v. StateSupreme Court of Georgia · 1912
- Arbitration Between Laminoirs-Trefileries-Cableries De Lens, S. A. v. Southwire Co.District Court, N.D. Georgia · 1980
- Neal v. BrockhanSupreme Court of Georgia · 1891
- Livingston Bros. v. SalterCourt of Appeals of Georgia · 1909
- Henley v. MabryCourt of Appeals of Georgia · 1972
9 more not listed; retrieve them via the Exa API.