Smithwick v. . Whitley
Supreme Court of North Carolina
Appeal from Ward, J., at December Term, 1909, of Beau-eobt. Action to recover the penalty for usury under section 1951, Revisal.
Read the full summary
Appeal from Ward, J., at December Term, 1909, of Beau-eobt. Action to recover the penalty for usury under section 1951, Revisal. The plaintiff, being indebted to the defendant in the sum of $469.90, which was evidenced by ten notes for $46.99 each, maturing 1 January, 1902, 1903, 1904, 1905, 1906, 1907, 1908, 1909, 1910 and 1911, all notes bearing interest from 30 December, 1.900, and secured by a mortgage, went to defendant to pay his indebtedness on 5 December, 1905; the defendant figured the interest due up to that time at $54.05, but refused to accept the principal and the interest due to…
1Opinion of the CourtBrown, J.
The plaintiff testified that the ten notes secured by mortgage and dated 30 December, 1900, were given for the purchase money of 'a tract of land purchased by plaintiff from defendant and bore 6 per cent interest from date. Each note was in sum of $46.99, and one matured 1 January, each year.
On 3 December, 1905, the notes due 1 January, 1902, 1903, 1904 and 1905, were due and unpaid. The remaining notes were not due. The plaintiff then sold the land to Tilman Paul, and on 5 December, 1905, they both went to Whitley to pay the purchaser-money debt and have the notes and mortgage surrendered…
2Cases cited3 opinions
- Struthers v. DrexelSupreme Court of the United States · 1887
- Tayloe v. Parker.Supreme Court of North Carolina · 1905
- Stockwell v. . HolmesNew York Court of Appeals · 1865
3Cited by19 opinions
- Southland Life Insurance v. EganTexas Supreme Court · 1935
- Clement Mortgage Co. v. JohnstonSupreme Court of Oklahoma · 1921
- Vela v. ShacklettTexas Commission of Appeals · 1929
- Bell Bakeries, Inc. v. Jefferson Standard Life InsuranceSupreme Court of North Carolina · 1957
- Wynne v. AllenSupreme Court of North Carolina · 1957
14 more not listed; retrieve them via the Exa API.