Powell v. Hunt
Supreme Court of Iowa
Appeal from Johnson District Court. It is not competent for a subsequent mortgagee' to set up usury in the prior incumbrance. That is a personal defense and can be made only by the borrower, his sureties, his devisees and representatives or those persons who are bound by the original contact to pay the sum borrowed. Sands v. Church et al, 2 Seld 847 ; Mechanic s Bank v. Edwards, 1 Barb.
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Appeal from Johnson District Court. It is not competent for a subsequent mortgagee' to set up usury in the prior incumbrance. That is a personal defense and can be made only by the borrower, his sureties, his devisees and representatives or those persons who are bound by the original contact to pay the sum borrowed. Sands v. Church et al, 2 Seld 847 ; Mechanic s Bank v. Edwards, 1 Barb. S. C. R. 272; S. C., 2 lb. 545; Beading, v. Weston, 7 Conn.; Be Wolffe v. Johnson, 10 Wheat. 367, 292; 20 Maine 28; 5 Taunt. 784; 22 Ala. 278; Post v. Bank of Utica, 7 Hill. 391; 3 Barb. S. C. R. 332; Frost v.…
1Opinion of the CourtLowe, C. J.
The plaintiff’s statement of his complaint is, that he holds a note of thirteen hundred dollars against the defendant, Hunt, dated 19th of May, 1857, payable in one year, and secured by mortgage on lot 3 in block 2, situated in that part of Iowa City known as the county seat. That one Etheil C. Lyon also holds a claim against the said Hunt, consisting of two notes of $1000 each, given for the loan of $1600, dated 26th July, 1856, payable in one year, drawing ten per cent interest from date, and secured by mortgage on the same lot. At the October Term 1858, the said Lyon obtained a judgment of…
2Cases cited3 opinions
- Gray's Executors v. BrownSupreme Court of Alabama · 1853
- Wendell v. WadsworthCourt for the Trial of Impeachments and Correction of Errors · 1822
- Frost v. ShawSupreme Court of Iowa · 1860
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- Anderson v. Oregon Mortgage Co.Idaho Supreme Court · 1902
- J. W. Squire Co. v. HedgesSupreme Court of Iowa · 1925
- Allison v. KingSupreme Court of Iowa · 1868