Odom v. New England Mortgage Security Co.
Supreme Court of Georgia
Before Judge Martin. Muscogee superior court. May term, 1892. . Assumpsit on a promissory note payable to Flint or order at the office of the Corbin Banking Company, New York City, with interest at eight per cent, per annum, indorsed to the plaintiff.
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Before Judge Martin. Muscogee superior court. May term, 1892. . Assumpsit on a promissory note payable to Flint or order at the office of the Corbin Banking Company, New York City, with interest at eight per cent, per annum, indorsed to the plaintiff. The defendants pleaded, besides the general issue, that the note was given to one Sherwood for money borrowed from him; that Sherwood exacted, retained and contracted to take interest at a rate greater than six per cent.; that the contract was to be executed in the State of New York, and by statute of that State the contract was void for usury,…
1Opinion of the Court
Bleckley, Chief Justice.
"When the statutes of the State of New York, by a duly certified copy, were offered in evidence to sustain the pleas of usury, two objections were made, one that the evidence was irrelevant, the other that the pleas did not state the amount of interest charged. On these •objections the evidence was excluded.
1. The excluded evidence would haye shown that by the law of New York the rate of interest is limited to six per cent, per annum, and that all contracts reserving or stipulating for a higher rate are void — void not only as to the usury but as to principal and…
2Cases cited2 opinions
- Jackson v. American Mortgage Co. of Scotland, Ltd.Supreme Court of Georgia · 1892
- New England Mortgage Security Co. v. McLaughlinSupreme Court of Georgia · 1891
3Cited by7 opinions
- Jones v. LawmanCourt of Appeals of Georgia · 1937
- Burnett v. Davis & Co.Supreme Court of Georgia · 1905
- Craven v. Bates, Kingsbery & Co.Supreme Court of Georgia · 1895
- Hollis v. Covenant Blg. & Loan Ass'nSupreme Court of Georgia · 1898
- Underwood v. American Mortgage Co. of Scotland, Ltd.Supreme Court of Georgia · 1895
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