Daniels v. Wilson
Supreme Court of Minnesota
Action on a promissory note for $280.79, bearing date June 1, 1870, made by defendant, and payable one year after date to Tunis S. Slingerland, or bearer, with interest at twelve per cent, per annum from date until paid. Defence, that the note was given without consideration, and was given in contravention of the statute against usury.
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Action on a promissory note for $280.79, bearing date June 1, 1870, made by defendant, and payable one year after date to Tunis S. Slingerland, or bearer, with interest at twelve per cent, per annum from date until paid. Defence, that the note was given without consideration, and was given in contravention of the statute against usury. At the trial in the district court for Olmsted county, before Mitchell, J., it appeared that plaintiff bought the note of Slingerland on May 9, 1874, paying him therefor $150, and that the plaintiff bought and paid for the note in due course of business, and…
1Opinion of the CourtBerry, J.
This is an action upon a promissory note made by defendant to one Slingerland, on June 1, 1870, and by Slingerland sold, indorsed and delivered to plaintiff, in “ due course of business,” before maturity, for consideration of one hundred and fifty dollars. The amount of the principal and accrued interest of the note, at the time of its sale and indorsement, was a little over three hundred dollars. When plaintiff purchased the note, he had no knowledge of the nature of its consideration. The defence was that the note *532was executed solely as evidence of an agreement to pay interest in excess of…
2Cited by7 opinions
- Endres v. First National BankSupreme Court of Minnesota · 1896
- Strickland v. First State Bank of BalatonSupreme Court of Minnesota · 1925
- Simpson v. EvansSupreme Court of Minnesota · 1890
- Morse v. WellcomeSupreme Court of Minnesota · 1897
- United States National Bank of New York v. McNairSupreme Court of North Carolina · 1895
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