Uhlfelder & Co. v. Carter's Adm'r
Supreme Court of Alabama
Appeal from tbe. Chancery Court of Montgomery. Heard before the Hon. H. Austill. The bill in this case was filed on the 13th May, 1874, by Handy Carter, a freedman, against M. Uhlfelder and Isaac Eraleigh, partners doing business, in the city of Montgomery, under the name of Uhlfelder & Co.; and sought an account of the various transactions had between the parties for a series of years, and equitable relief on the grounds of fraud and usury.
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Appeal from tbe. Chancery Court of Montgomery. Heard before the Hon. H. Austill. The bill in this case was filed on the 13th May, 1874, by Handy Carter, a freedman, against M. Uhlfelder and Isaac Eraleigh, partners doing business, in the city of Montgomery, under the name of Uhlfelder & Co.; and sought an account of the various transactions had between the parties for a series of years, and equitable relief on the grounds of fraud and usury. The transactions between the parties, according to the allegations of the bill, commenced in 1867, when the complainant raised eight bales of cotton, and…
1Opinion of the Court
BBICKELL, C. L
As the case is presented, it is not necessary to inquire whether the stipulations for the future delivery of the cotton, contained in the mortgages, can be regarded as agreements for liquidated damages, or in the nature of a penalty, to be compensated, if there is a breach, only by the recovery of actual damages. The whole inquiry is resolved into the question, whether these stipulations are not mere devices to obtain a greater rate of interest, for the forbearance of an existing debt, than is lawful. The facts are, that the mortgagor was indebted to the mortgagees, in a sum…
2Cases cited8 opinions
- Hunt v. AcreSupreme Court of Alabama · 1856
- Branch Bank at Mobile v. StrotherSupreme Court of Alabama · 1848
- Dunham v. DeyNew York Supreme Court · 1816
- Brown v. HarrisonSupreme Court of Alabama · 1850
- Smith v. . MarvinNew York Court of Appeals · 1863
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3Cited by28 opinions
- Burns v. CampbellSupreme Court of Alabama · 1882
- Meroney v. Atlanta Building & Loan Ass'nSupreme Court of North Carolina · 1895
- Dozier v. MitchellSupreme Court of Alabama · 1880
- Falls v. United States Savings, Loan & Building Co.Supreme Court of Alabama · 1892
- Clark v. GreySupreme Court of Florida · 1931
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