White's Administrator v. Curd
Court of Appeals of Kentucky
Case 29 — PETITION EQUITY APPEAL FROM WHITLEY CIRCUIT COURT. 1. A note “ to boar interest from date at the rate of ten per centum per annum,” bears that rate only to maturity, and after that six per cent, (McDonald v. Green, MS. Op., April 21, 1883; Robertson v. 'Waltrip, MS. Op., January 17, 1883; Ballow v. Jones, MS. Op., March 12, 1886.) 2. Usurious interest paid must be applied first to payment of legal interest, and then as credit on debt.
Read the full summary
Case 29 — PETITION EQUITY APPEAL FROM WHITLEY CIRCUIT COURT. 1. A note “ to boar interest from date at the rate of ten per centum per annum,” bears that rate only to maturity, and after that six per cent, (McDonald v. Green, MS. Op., April 21, 1883; Robertson v. 'Waltrip, MS. Op., January 17, 1883; Ballow v. Jones, MS. Op., March 12, 1886.) 2. Usurious interest paid must be applied first to payment of legal interest, and then as credit on debt. (Ellis v. Brannin, 1 Duvall, 50; Stone v. McConnell, 1 Duvall, 56.). 3. A due bill for goods bought is of no higher dignity than a merchant’s account,…
1Opinion of the Court
JUDGE BENNETT
delivered the opinion op the court.
The appellee instituted suit in the Whitley Circuit Court against the appellant, Dempsey White, as the administrator of M. E. White, deceased, and the widow and heirs of said deceased, on three-notes — one for five hundred dollars, dated May the 20th, 1872, and due twelve months after date, together with interest from date, “at the rate of ten per cent, per annum,” and one for six hundred and seventy-five dollars and ninety-one cents, dated the eighth of October, 1873, ahd due instanter, together with “ten per cent, interest thereon from date;”…
2Cited by1 opinion
- Russell v. CentersCourt of Appeals of Kentucky · 1913