Smythe v. Allen
Mississippi Supreme Court
From the circuit court of Leake county. By consent, Edward Currie, Esq., presided in the trial of this case. The facts are stated in the opinion of the court. 1. Appellee’s tenth instruction is erroneous. It entirely ignores intent, and told the jury that all interest was to be forfeited if the “ effect” of the transaction was an excess in charge of interest. If it is the law, a man may be ruined by accident or mistake.
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From the circuit court of Leake county. By consent, Edward Currie, Esq., presided in the trial of this case. The facts are stated in the opinion of the court. 1. Appellee’s tenth instruction is erroneous. It entirely ignores intent, and told the jury that all interest was to be forfeited if the “ effect” of the transaction was an excess in charge of interest. If it is the law, a man may be ruined by accident or mistake. There must be an agreement by which the borrower “ knowingly promises” and the lender “ knowingly receives” more than legal interest, with an intention to violate the statute.…
1Opinion of the CourtWoods, C. J.
This was an action brought by the appellant, on the joint and several promissory note of the appellee and one Houston, against the appellee alone. The defense set up was that the note sued upon was given for a balance found to be due, on a settlement made between the appellant and Houston, and that this balance was wholly usurious interest.
The evidence offered by appellee tended to show that usurious interest on two promissory notes theretofore made by Houston to appellant constituted a part of the balance so found to be due from Houston to the appellant, and for which the note sued on was…
2Cited by7 opinions
- Garvin v. LintonSupreme Court of Arkansas · 1896
- Sunburst Bank v. KeithMississippi Supreme Court · 1995
- Chandler v. CookeMississippi Supreme Court · 1931
- Jefferson Standard Life Ins. v. DavisMississippi Supreme Court · 1935
- Jones v. Hernando BankMississippi Supreme Court · 1943
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