House v. Tennessee Female College
Tennessee Supreme Court
FROM WILLIAMSON. From the Chancery Court, April Term, 1871. W. S. Fleming, Ch. 1. This was a note executed by the obligors, and payable to a guardian against whom the law would compound the interest as between him and his ward, and therefore all doubts which might arise as to the intention or understanding of the parties would be in favor of the guardian’s having discharged his duty to his ward, and framed the contract with a view to his legal duties and his own protection.…
Read the full summary
FROM WILLIAMSON. From the Chancery Court, April Term, 1871. W. S. Fleming, Ch. 1. This was a note executed by the obligors, and payable to a guardian against whom the law would compound the interest as between him and his ward, and therefore all doubts which might arise as to the intention or understanding of the parties would be in favor of the guardian’s having discharged his duty to his ward, and framed the contract with a view to his legal duties and his own protection. 2. The credits on the back of the note, and the prompt payment of the interest for several years, according to the…
1Opinion of the CourtFbeeman, J.
The only question presented in this case arises on the mode of computing interest on the following note:
“$2000. One day after date we, or either of us, *130promise to pay William Park, guardian, etc., two thousand dollars, with interest from this day until paid, for value received. The interest on' said sum to be promptly paid at the end of every six months until the principal shall be paid.”
The point made is, whether the interest is simply to be calculated from date of the note to its payment, ■or whether interest was contracted to be paid at the end of every six months, and on failure whether…
2Cases cited2 opinions
- Bledsoe v. . Nixon .Supreme Court of North Carolina · 1873
- Dunlap v. of WisemanOhio Superior Court, Cincinnati · 1858
3Cited by1 opinion
- Mathews v. ToogoodNebraska Supreme Court · 1888