Pearson v. Bailey
Supreme Court of Alabama
Error to the Chancery Court of Tallapoosa. Heard before the Hon. W. W. Mason. The bill was filed by Francis E. Bailey, the defendant in error, against James M. Pearson, Mary Pearson, Matthew Lyle and Mary D. C. Lyle.
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Error to the Chancery Court of Tallapoosa. Heard before the Hon. W. W. Mason. The bill was filed by Francis E. Bailey, the defendant in error, against James M. Pearson, Mary Pearson, Matthew Lyle and Mary D. C. Lyle. It alleges that, in 1842, complainant borrowed §300 from said James M. Pearson, at 16 per cent, interest, and to secure its payment executed to him several notes, with two sureties, amounting in the agrégate to §348 ; that said notes were payable on the 25th of December, 1842, some of them to said James M. Pearson, and others to John M. Pearson; that when these notes became due,…
1Opinion of the CourtLigon, J.
The questions intended to be raised by the first and second assignments of error, may all be considered under the third.
There certainly exists no reason why the Chancellor, at the hearing, or at any other period of the litigation in the court below, should have dismissed the bill for want of equity. Its allegations make out a clear case of usury, practiced through a series of years in every variation in the form of the contract between the parties ; and we presume that no authority need be cited to sustain the jurisdiction of the Court of Chancery under such circumstances, and especially when…
2Cases cited1 opinion
- Jackson ex dem. Skinner v. PackardNew York Supreme Court · 1831
3Cited by13 opinions
- Pickett v. Merchants' National BankSupreme Court of Arkansas · 1877
- Lindsay v. United States Savings & Loan Co.Supreme Court of Alabama · 1899
- McCormick v. FallierSupreme Court of Alabama · 1931
- Blue v. First Nat. BankSupreme Court of Alabama · 1917
- Masterson v. GrubbsSupreme Court of Alabama · 1881
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