Steward v. Downer
Supreme Court of Vermont
This is an action brought by a common informer to recover the penalty under the statute prohibiting usury. The summary of the case was this: — One Benjamin Clapp obtained a' loan of money of this defendant Downer upon usurious interest and mortgaged his farm in Barnard to secure the payment.
Read the full summary
This is an action brought by a common informer to recover the penalty under the statute prohibiting usury. The summary of the case was this: — One Benjamin Clapp obtained a' loan of money of this defendant Downer upon usurious interest and mortgaged his farm in Barnard to secure the payment. On failure of payment Downer brought his action of ejectment for the farm, recovered judgment, and Clapp filed his motion to redeem-. The sum due upon the contract was ascertained, and a time of redemption limited. That time expired without payment, Ieavingdhe title absolute in Downer; This farm was shown…
1Opinion of the Court
■3?hd opiiiio/i'df tiie’cddrt' wai delivered'by
Rebi-ield',' J’.
It is appálém5 froiri1 thé texAris'’ of1 the' statUtfe,' áhd subir ihttaéd,'hab' taiig-been'the settled' CótiStrüCtióh'of similar' statbfes",'fiigt'fhé páyniéhtytó cónsiitut’é üsiiry,'must' lie" in' ptffsti1" aticé of a1 pfévioüs'corrupt'agreement1.' If is" riot íiéCéssary tip' ill1 quire whether the paymerit'riiiist' specifically correspond' With'thé' terms' of the' contract. It riíuát5 bé . a! Voluntary' pay ífiént’, arid1 a1 payment niadé in'éonsuníiiiátióri'of the' previous corrupt' bargain;'
Ih'this'case it'¡¿"apparent the'…
2Cases cited2 opinions
- Lovell v. LelandSupreme Court of Vermont · 1831
- Strong v. StrongSupreme Court of Vermont · 1827
3Cited by2 opinions
- Day v. CummingsSupreme Court of Vermont · 1847
- Heath v. FrackletonWisconsin Supreme Court · 1866