Union National Bank v. Fraser
Mississippi Supreme Court
Appeal and gross-appeal from the Chancery Court of Grenada County. Hon. J. G. Hall, Chancellor. The Union National Bank of Louisiana brought this bill against M. L. & A. Fraser and Jacob Snider, citizens of Grenada County.
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Appeal and gross-appeal from the Chancery Court of Grenada County. Hon. J. G. Hall, Chancellor. The Union National Bank of Louisiana brought this bill against M. L. & A. Fraser and Jacob Snider, citizens of Grenada County. It appears that on November 1, 1880, N. C. Snider, a banker, and M. L. & A. Fraser, planters, began a series of business transactions which lasted until the death of Snider in May, 1884. The plan of conducting the business was this: At the beginning of a year the Frasers would determine how much money they wou'd need during the year, would make their note for that amount…
1Opinion of the CourtCooper, C. J.
We concur with the Chancellor in the opinion that the note sued on and all those of which it is the successor were but items in the running account kept by Snider against the defendants, and so intimately connected with all the other debits and credits that it is affected by all the usurious dealings between the parties. The Chancellor rightly directed the commissioner to purge the whole *238account of all usury. There was no error, therefore, in the order of reference to which the complainant could except. But the usury which had been charged and paid was not, under the circumstances, a mere…
2Cited by6 opinions
- Hardin v. Grenada BankMississippi Supreme Court · 1938
- Purvis v. WoodwardMississippi Supreme Court · 1901
- Allen v. Grenada BankMississippi Supreme Court · 1929
- Sullivan v. AmmonsMississippi Supreme Court · 1909
- Armor v. Bank of LoudonMississippi Supreme Court · 1905
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