Columbian B. & L. Ass'n v. Rice
Supreme Court of South Carolina
Before Krugh, J., Cherokee, September, 1903. Action by The Columbian Building and Loan Association, of Richmond, Va., against Seal Rice, Alfred Smith and Henry Jackson, as trustees Mount Olive African Methodist Episcopal Zion Church. From Circuit decree, defendants appeal. cite: This is South Carolina contract: 58 S. C., 551. Laws of foreign State must be pleaded and proved: 20 Fncy.
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Before Krugh, J., Cherokee, September, 1903. Action by The Columbian Building and Loan Association, of Richmond, Va., against Seal Rice, Alfred Smith and Henry Jackson, as trustees Mount Olive African Methodist Episcopal Zion Church. From Circuit decree, defendants appeal. cite: This is South Carolina contract: 58 S. C., 551. Laws of foreign State must be pleaded and proved: 20 Fncy. P. & P., 600, 601, 602, 598; 9 Id., 542, 543; 116 U. S-, 1; 4 L. R. A., 42; 9 S. C., 6S; Bliss Code Plead., 3 ed., 183; 45 S. C., 365; 66 S. C., 98. Under S. C. laws the contract is usurious: 12 Rich. Eq.', 124;…
1Opinion of the Court
March 18th, 1904. The opinion of the Court was delivered by The defendants, trustees of Mount Olive African Methodist Episcopal Zion Church, subscribed to two shares of stock in The Columbian Building and Loan Association, a Virginia corporation, and as such subscribers borrowed money from the association, giving a mortgage on the church property to secure the loan. They now plead usury as a defense to this action to foreclose the mortgage, and set up a counter-claim for the penalty of receiving usurious interest.
The first inquiry is whether the contract falls under the law of South Carolina…
2Cases cited13 opinions
- Thatcher v. . MorrisNew York Court of Appeals · 1854
- Gist v. Telegraph Co.Supreme Court of South Carolina · 1895
- Rosemand v. Southern Ry.Supreme Court of South Carolina · 1903
- Pollock v. Carolina Interstate B. & L. Ass'nSupreme Court of South Carolina · 1898
- Bird v. KendallSupreme Court of South Carolina · 1901
8 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Livingston v. Atlantic Coast Line R. Co.Supreme Court of South Carolina · 1935
- Standard Register Co. v. KerriganSupreme Court of South Carolina · 1961
- Associated Spring Corp. v. Roy F. Wilson & Avnet, Inc.District Court, D. South Carolina · 1976
- Cantey, Adm'r v. Phila. Life Ins. Co.Supreme Court of South Carolina · 1932
- Crosby v. Seaboard Air Line Ry.Supreme Court of South Carolina · 1908
6 more not listed; retrieve them via the Exa API.