McCann's ex'r v. Bell
Court of Appeals of Kentucky
Case 22 — EQUITY APPEAL FROM FAYETTE COURT OF COMMON PLEAS. 1. The interest agreed to be paid after the maturity of the note forms no part of the price of the land. ' It is money to be paid for forbearance by the obligee or his assignee. 2. The appellant’s answer avers that appellee failed to verify his demand and present it for payment to appellant within a year after his appointment. 3. The court erred in sustaining the demurrer.
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Case 22 — EQUITY APPEAL FROM FAYETTE COURT OF COMMON PLEAS. 1. The interest agreed to be paid after the maturity of the note forms no part of the price of the land. ' It is money to be paid for forbearance by the obligee or his assignee. 2. The appellant’s answer avers that appellee failed to verify his demand and present it for payment to appellant within a year after his appointment. 3. The court erred in sustaining the demurrer. The case of Tousey v. Robinson (1 Met., 663) is not in point. The statute is founded upon sound policy, and should be construed for the protection of decedents’…
1Opinion of the CourtChief Justice Cofeb
delivered the ofikion of the court;
These cases, it seems to us, are distinguishable from the cases of Tousey v. Robinson (1 Met., 663), and Gruell v. Smalley (1 Duv., 358).
In the former case land was sold for $2,000, payable two years after date, with interest from date, payable semiannually, at the rate of eight per cent., and it was stated in the bill of exceptions that the eight per cent, claimed to be usury was a part of the contract for the purchase of the land.
The court treated the contract as if the agreement had been to pay, at the end of two years, a’ sum equal to $2,000, at eight…
2Cases cited2 opinions
- Tousey v. RobinsonCourt of Appeals of Kentucky · 1859
- Gruell v. SmalleyCourt of Appeals of Kentucky · 1864