Hudson v. Repton State Bank
Alabama Court of Appeals
Appeal from Circuit Court, Monroe County; Ben D. Turner, Judge. Suit by the Repton State Bank against P. D. Hudson upon a note. Judgment for plaintiff, and defendant appeals. The note was payable to the order of “Myself,”' signed by P. D. Hudson, and it is alleged in the complaint that plaintiff acquired the legal title thereto in due course, before maturity, and for value, without notice.
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Appeal from Circuit Court, Monroe County; Ben D. Turner, Judge. Suit by the Repton State Bank against P. D. Hudson upon a note. Judgment for plaintiff, and defendant appeals. The note was payable to the order of “Myself,”' signed by P. D. Hudson, and it is alleged in the complaint that plaintiff acquired the legal title thereto in due course, before maturity, and for value, without notice. Defendant’s third plea is as follows: For further plea defendant adopts all of plea 2 so far as the same applies to fraud perpetrated on defendant by said G'adenhead, and in addition thereto, for further…
1Per curiam
[1] The manifest purpose of section 4624, Code 1907, is to prevent banks from using the character of their business as a cloak to evade the usury laws; and where money is advanced by a bank and the transaction is in substance a loan, though in form a discount of securities, and the amount taken out for the use of the money is in excess of the legal rate of interest, the transaction is usurious. Youngblood v. Birmingham Trust Co., 95 Ala. 521, 12 South. 579, 20 L. R. A. 58, 36 Am. St. Rep. 245; Planters’ Bank v. Goetter, 108 Ala. 408, 19 South. 54.
[2] Where, however, the transaction is not in…
2Cases cited9 opinions
- Elmore County Bank v. AvantSupreme Court of Alabama · 1914
- Capital City Insurance v. QuinnSupreme Court of Alabama · 1883
- Youngblood v. Birmingham Trust & Savings Co.Supreme Court of Alabama · 1891
- Wildsmith v. TracySupreme Court of Alabama · 1885
- Woodall & Sons v. People's National BankSupreme Court of Alabama · 1907
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3Cited by6 opinions
- Commercial Credit Co. v. TarwaterSupreme Court of Alabama · 1926
- Calcasieu-Marine National Bank of Lake Charles v. American Employers' Insurance Co., Louisiana Bank & Trust Co., Cross v. The Employers Liability Assurance Corp., CrossCourt of Appeals for the Fifth Circuit · 1976
- United States Department of Health & Human Services v. Avila (In Re Avila)United States Bankruptcy Court, W.D. New York · 1985
- Baker v. ButcherCalifornia Court of Appeal · 1930
- Calcasieu-Marine National Bank v. American Employers' InsuranceCourt of Appeals for the Fifth Circuit · 1976
1 more not listed; retrieve them via the Exa API.