Farmers & Merchants Bank v. Richards
Missouri Court of Appeals
Appeal from Audrain Circuit Court. — Nora. James D. Barnett, Judge. There conld be no renewal of a note bearing eight per cent interest by a new promise not in writing. R. S. 1899, secs. 3705, 3706. The evidence offered on the part of the plaintiff in an effort to show a new promise was insufficient to constitute a new promise to pay the note. It included a promise to pay interest which was necessarily eight per cent.
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Appeal from Audrain Circuit Court. — Nora. James D. Barnett, Judge. There conld be no renewal of a note bearing eight per cent interest by a new promise not in writing. R. S. 1899, secs. 3705, 3706. The evidence offered on the part of the plaintiff in an effort to show a new promise was insufficient to constitute a new promise to pay the note. It included a promise to pay interest which was necessarily eight per cent. “An express, positive and unconditional promise is generally held to be necessary.” 16 Am. & Eng. Ency. of Law (2 Ed.), 790 and authorities cited under note 2. “A new promise to…
1Opinion of the Court
Statement.—
On February 17, 1900, defendant executed and delivered to plaintiff his promissory note for three hunded and twenty-five dollars, bearing interest from date at the rate of eight per cent per annum. The note, though overdue, has not been paid. After executing the note the defendant was adjudged a bankrupt and on February 28,1901, received his discharge in bankruptcy. The count of the petition on which the case was tried (the second one) alleged, in substance, that after the adjudication in bankruptcy, the defendant, “for a valuable consideration, by a new promise then and there…
2Cases cited6 opinions
- Shockey v. MillsIndiana Supreme Court · 1880
- Griel & Bro. v. SolomonSupreme Court of Alabama · 1886
- Fleming v. LullmanMissouri Court of Appeals · 1881
- Meech v. LamonIndiana Supreme Court · 1885
- Katz v. MoessingerIllinois Supreme Court · 1884
1 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Greenspon v. CommissionerUnited States Tax Court · 1947
- Carr v. BarnesMissouri Court of Appeals · 1909
- Ferguson-McKinney Dry Goods Co. v. BeuckmanMissouri Court of Appeals · 1917
- Donnell v. EnglandSupreme Court of Missouri · 1940
- United States National Bank v. MillerOregon Supreme Court · 1926
3 more not listed; retrieve them via the Exa API.