Lamoille County National Bank v. Bingham
Supreme Court of Vermont
Assumpsit on a promissory note. Plea, the general issue, with notice of special matter. Trial by jury, April Term, 1877, Rotce, J., presiding. The note declared on was for $800, payable to the plaintiff, without words of negotiability.
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Assumpsit on a promissory note. Plea, the general issue, with notice of special matter. Trial by jury, April Term, 1877, Rotce, J., presiding. The note declared on was for $800, payable to the plaintiff, without words of negotiability. It appeared that defendant signed the note as surety, and that Warren I. Atkins, another signer, was the principal, and the one for whose benefit the money was obtained; that after its execution, Atkins presented it for discount at the bank to which it was made payable, and failing in that, applied to George Wilkins to get the money on it, and that Wilkins took…
1Opinion of the Court
The opinion of the court was delivered by
Redfield, J.
The exceptions present the single question, whether the payment by the principal of usurious interest on the note eo nomine, does enable this defendant, who is surety, to insist that such excess above lawful interest shall be applied as a payment of the note pro tanto.
This question is not new in this state. It was early held that money paid as usury could not be attached by trustee process. Barker v. Esty, 19 Vt. 131; and that such claim did not pass to the assignee in bankruptcy. Nichols v. Bellows, 22 Vt. 581. The courts speak of the…
2Cases cited6 opinions
- Barker v. EstySupreme Court of Vermont · 1847
- Nichols & Bliss v. BellowsSupreme Court of Vermont · 1849
- Davis v. ConverseSupreme Court of Vermont · 1863
- Ward v. WhitneySupreme Court of Vermont · 1859
- Cady v. GoodnowSupreme Court of Vermont · 1877
1 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Barney v. Tontine Surety Co.Michigan Supreme Court · 1902
- Grubb v. StewartWashington Supreme Court · 1907
- Irwin v. Washington Loan Ass'nOregon Supreme Court · 1903
- Knott v. JacksonDistrict of Columbia Court of Appeals · 1942
- Bank of Newbury v. SinclairSupreme Court of New Hampshire · 1880
5 more not listed; retrieve them via the Exa API.