Douglass v. Boulevard Co.
Supreme Court of Connecticut
Action by the payee against the maker and indorsers of a promissory note for $5,000, brought to the District Court of Waterbury and tried to the jury before Reeves, J.; verdict and judgment for the plaintiff, and appeal by the defendants.
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Action by the payee against the maker and indorsers of a promissory note for $5,000, brought to the District Court of Waterbury and tried to the jury before Reeves, J.; verdict and judgment for the plaintiff, and appeal by the defendants. The defendants’ answer admitted the execution of the note, and set out certain special defenses: first, that the note was accepted by the plaintiff in violation of Chapter 244 of the Public Acts of 1911, relating to usury; second, that at the time the note was executed the makers of the note were only indebted to the plaintiff in the amount of $3,500; and…
1Opinion of the CourtShumway, J.
Section 1 of Chapter 244 of the Public Acts of 1911, page 1539, provides that no person, and no firm or corporation, other than a pawnbroker, shall, directly or indirectly, loan money to any person and, directly or indirectly, charge, demand, accept, or make any agreement to receive, therefor, interest at a greater rate than twelve per centum per annum. The second section of the same Act prohibits the taking of any note, with intent to evade the provisions of section one. Section five provides that no action shall be brought .to recover the principal, interest, or any part thereof, or any…
2Cases cited2 opinions
- Mills v. JohnstonTexas Supreme Court · 1859
- Beckwith v. Windsor Manufacturing Co.Supreme Court of Connecticut · 1842
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- Grady v. PriceArizona Supreme Court · 1963
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