Commercial Bank v. Auze
Mississippi Supreme Court
From the circuit court of Lincoln county. The facts are sufficiently stated in the opinion. 1. The action is based on § 2318 of the code of 1892, which did not take effect until November 1, 1892, and the contracts by and upon which it is claimed usurious interest was stipulated and received, were made respectively, January 27 and June 18, 1892. The suit is for all interest paid, both lawful and usurious.
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From the circuit court of Lincoln county. The facts are sufficiently stated in the opinion. 1. The action is based on § 2318 of the code of 1892, which did not take effect until November 1, 1892, and the contracts by and upon which it is claimed usurious interest was stipulated and received, were made respectively, January 27 and June 18, 1892. The suit is for all interest paid, both lawful and usurious. Under the law in force at the time of the contract, only the excess over the lawful interest could be recovered. Sec. 1111, code of 1880; Dickerson v. Thomas, 67 Miss., 777. The statute is…
1Opinion of the CourtWoods, C. J.
We find it unnecessary to examine, in detail, the many and complicated and voluminous pleadings of counsel, for the reason that on the issues finally joined the defenses were fairly presented by the pleas adjudged good, and all the evidence desired to be offered in support of these pleas was fully presented.
On January 27, 1892, appellees borrowed of appellant $2,174, and to this principal sum was added interest at the rate of twenty per centum per annum, for which appellees executed their note for $2,500, with interest thereon, after maturity, at eight per cent, per annum, which note became…
2Cases cited1 opinion
- Brown, Bros. v. FreelandMississippi Supreme Court · 1857
3Cited by7 opinions
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- Chandlee v. TharpMississippi Supreme Court · 1931
- Beck v. TuckerMississippi Supreme Court · 1927
- Mueller v. OberSupreme Court of Minnesota · 1927
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