Gramer v. Joder

The point in this case is similar to that made in the preceding case of Thompson v. Hoagland et al.

This note reads as follows:

$400. Arispe, Oct. 8, 1864.

One year after date I promise to pay to the order of Barbary Joder, the sum of four hundred dollars at ten pe. cen. value received.”

The court below, trying the cause without a jury, held this was a note bearing interest at ten per cent from date, and, we think, correctly. The words, though abbreviated “pe. cen.,” have a meaning which is well understood. They speak a language all can understand; and no dealer in such securities Avould hesitate…