Grand Gulf Bank v. Archer
Court of Appeals of Mississippi
t In error, from the circuit court of Claiborne county; the Hon. George Coalter, judge. This was an action of assumpsit, brought in the Claiborne circuit court, by the Grand Gulf Bank, against Richard T. Archer and W. and É. F. Eggleston, upon their promissory note for $11,880, payable four months after date, and dated January 25, 1838, and credited on the 21st February, 1839, by $5955 89. The defendants pleaded the general issue, payment, and a special plea, the substance…
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t In error, from the circuit court of Claiborne county; the Hon. George Coalter, judge. This was an action of assumpsit, brought in the Claiborne circuit court, by the Grand Gulf Bank, against Richard T. Archer and W. and É. F. Eggleston, upon their promissory note for $11,880, payable four months after date, and dated January 25, 1838, and credited on the 21st February, 1839, by $5955 89. The defendants pleaded the general issue, payment, and a special plea, the substance of which is, that the note sued upon was given upon an illegal and corrupt agreement, and upon the express consideration…
1Opinion of the CourtJustice Clayton
delivered the following opinion :
This case brings up the question so often discussed in this court, as to the consequence of taking more interest by a bank than is allowed by its charter. The decision below was, that no part of the sum loaned, either principal or interest, could be recovered.
*173I shall enter upon no examination of the facts to show that the jury was justified in finding that the contract was usurious. I shall take it for granted, that the proof establishes the taking of more interest on the part of the bank, by the contract in this case, than the charter allowed. The…
2Cases cited4 opinions
- Fleckner v. President of the Bank of the United StatesSupreme Court of the United States · 1823
- The Mary AnnSupreme Court of the United States · 1823
- Inhabitants of Shutesbury v. Inhabitants of OxfordMassachusetts Supreme Judicial Court · 1819
- Thornton v. Bank of WashingtonSupreme Court of the United States · 1830
3Cited by3 opinions
- Nowell v. HarringtonCourt of Appeals of Maryland · 1914
- Burnett's Lumber & Supply Co. v. Commercial Credit Corp.Mississippi Supreme Court · 1951
- People v. AbettiNew York Court of General Session of the Peace · 1914