Ricord v. Jones
Supreme Court of Iowa
Appeal from Washington District Court. Action upon a promissory note against Jones, the maker, and Farley, the payee and guarantor. Among other defenses Earley sets up that the guaranty upon which the action against him is based, “ was by the plaintiff received in fraud of the revenue laws of the United States, not having been stamped with an internal revenue stamp and cannot be enforced.”
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Appeal from Washington District Court. Action upon a promissory note against Jones, the maker, and Farley, the payee and guarantor. Among other defenses Earley sets up that the guaranty upon which the action against him is based, “ was by the plaintiff received in fraud of the revenue laws of the United States, not having been stamped with an internal revenue stamp and cannot be enforced.” Upon the introduction of the note and guaranty in evidence, defendant, Earley, objected to the latter instrument on the ground that it was not stamped. The objection was overruled and the guaranty received…
1Opinion of the CourtBeck, J.
On the authority of Campbell v. Wilcox, 10 Wal. 421, this court, in Mitchell v. The Home Insurance Co., 32 Iowa, 421, overruled Hugus v. Strickler, 19 id. 416, and the cases following it, holding that an instrument, which, under the act of congress, is required to be stamped, will be deemed invalid for want of a stamp only in case it was omitted with intent to evade the provisions of the act and defraud the government of the stamp duty.
The United States supreme court in Campbell v. Wilcox holds, that “ the act of congress which requires promissory notes and other instruments to be stamped,…
2Cases cited1 opinion
- Mitchell v. Home InsuranceSupreme Court of Iowa · 1871
3Cited by5 opinions
- Lutton v. BakerSupreme Court of Iowa · 1919
- Farmers Savings Bank v. NeelSupreme Court of Iowa · 1922
- State v. Glucose Sugar Refining Co.Supreme Court of Iowa · 1902
- Harvey v. WielandSupreme Court of Iowa · 1902
- Jordan v. GoodsideSupreme Judicial Court of Maine · 1923