Cornell v. Smith
Supreme Court of Minnesota
Plaintiff brought this action in the district court for Nobles county, to recover possession of personal property mortgaged by him to defendant, and taken by the latter from plaintiff’s possession, under a power given by the mortgage..
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Plaintiff brought this action in the district court for Nobles county, to recover possession of personal property mortgaged by him to defendant, and taken by the latter from plaintiff’s possession, under a power given by the mortgage.. The complaint alleges the origin, nature and history of the mortgage debt, and pleads a tender of the amount remaining due on the mortgage, after crediting on the principal of the debt the amount of interest in excess of twelve per cent, paid thereon from time to time by plaintiff, ánd a.tender of the amount of defendant’s expenses, etc. At the trial before…
1Opinion of the CourtCornell, J.
In Woolfolk v. Bird, 22 Minn. 341, this court, in construing the provisions of Gen. St. (1866) c. 23, § 1, as applicable to the facts of that case, laid down the rule that a voluntary payment of interest, computed at a rate per cent, exceeding what may be lawfully contracted for by the parties under the statute, stands upon the same footing as any other payment of money by a parly under no legal obligation to make it, but which is made voluntarily, and with full knowledge of all the facts. The reason for the rule is that, as the statutes then in force upon the subject of interest contained no…
2Cases cited2 opinions
- Woolfolk v. BirdSupreme Court of Minnesota · 1876
- Taylor v. BurgessSupreme Court of Minnesota · 1880
3Cited by7 opinions
- Gladwin State Bank v. DowMichigan Supreme Court · 1920
- Strickland v. Bank of CartersvilleSupreme Court of Georgia · 1914
- Carson v. CochranSupreme Court of Minnesota · 1892
- Gross v. CoffeySupreme Court of Alabama · 1895
- Anderson v. Scandia BankSupreme Court of Minnesota · 1893
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