Taylor v. Buzard
Missouri Court of Appeals
Appeal from Adair Circuit Court. — Hon. Nat. M. Shelton, Judge. (1) If the provisions for the payment of excessive interest is dependent on a contingency, which the borrower may avoid by paying the debt with legal interest, the loan will not be deemed usurious. State v. Elliott, 61 Kan. 518; Lloyd v. Scott, 4 Pet. 205; Gambril v. Doe, 8 Black. (Ind.) 140; Fisher v. Anderson, 25 Iowa 28; Weatherby v. Smith, 30 Iowa 131; Righter v. Warehouse Co., 99 Pa.
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Appeal from Adair Circuit Court. — Hon. Nat. M. Shelton, Judge. (1) If the provisions for the payment of excessive interest is dependent on a contingency, which the borrower may avoid by paying the debt with legal interest, the loan will not be deemed usurious. State v. Elliott, 61 Kan. 518; Lloyd v. Scott, 4 Pet. 205; Gambril v. Doe, 8 Black. (Ind.) 140; Fisher v. Anderson, 25 Iowa 28; Weatherby v. Smith, 30 Iowa 131; Righter v. Warehouse Co., 99 Pa. St. 289; Downey v. Beach, 78 111. 53; Mc-Nairy y. Bell, 1 Yerg (Tenn.) 502; Walker v. Abt, 83 111. 226; Ramsay y. Morison, 39 N. J. Law 591;…
1Opinion of the CourtEllison, J.
This is an action in replevin for a piano. The trial was before the court without the aid of a jury and resulted in a judgment for the defendant. Plaintiff, a piano dealer, sold the piano in question to Mrs. White for $300 and took from her the following note for the purchase price: “For value received, I promise to pay to the order of John N. Taylor three hundred dollars with eight per cent, interest per annum from date; said principal and interest payable, one square piano at $75 and balance in installments of ten dollars, each and every month, beginning February 7, 1900. Reasonable…
2Cases cited7 opinions
- Kreibohm v. YanceySupreme Court of Missouri · 1900
- Walker v. AbtIllinois Supreme Court · 1876
- Upton v. O'DonahueNebraska Supreme Court · 1891
- Downey v. BeachIllinois Supreme Court · 1875
- Rogers v. SampleMississippi Supreme Court · 1857
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3Cited by4 opinions
- Cissna Loan Co. v. GawleyWashington Supreme Court · 1915
- Garland v. Union Trust Co.Supreme Court of Oklahoma · 1917
- J. I. Case Threshing Machine Co. v. TomlinMissouri Court of Appeals · 1913
- Smith v. BrokawSupreme Court of Arkansas · 1927