Kilcrease v. Johnson
Supreme Court of Georgia
Promissory notes. Interest and usury. Pleadings. Before Judge Smith. Schley superior court. October term, 1889. On April 16, 1887, Kilcrease made his note for $300.00, due April 16,1892, for value received, payable to Johnson, at Boston, Massachusetts, with interest from date of note at 8 per cent., payable annually.
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Promissory notes. Interest and usury. Pleadings. Before Judge Smith. Schley superior court. October term, 1889. On April 16, 1887, Kilcrease made his note for $300.00, due April 16,1892, for value received, payable to Johnson, at Boston, Massachusetts, with interest from date of note at 8 per cent., payable annually. At the same time he gave notes for the interest, and agreed that should any of the interest not be paid when due, the note therefor should bear interest at 8 per cent, from maturity, and that upon failure to pay any of the interest within thirty days after due, the principal sum…
1Opinion of the Court
Simmons, Justice.
1. The pleadings and facts in this case are substantially the same as in the case of Martin v. Johnson, 84 Ga. 481. Here, as there, the note was made in this State, to be paid in Massachusetts, with a deed to land to secure the payment thereof. Here, as there, the plea alleged usury arising from a like transaction, in that the amount borrowed and for which the note was given was $800, when only $231 was delivered by the lender and received by the borrower, the latter thus giving his note for $69 more than he received. The plea shows, therefore, that $69 of the principal of…
2Cases cited3 opinions
- Merck v. American Freehold Land Mortgage Co. of London, Ltd.Supreme Court of Georgia · 1887
- Martin v. JohnsonSupreme Court of Georgia · 1890
- Hughes v. GriswoldSupreme Court of Georgia · 1889
3Cited by8 opinions
- Linam v. AndersonCourt of Appeals of Georgia · 1913
- Cooper v. RicketsonCourt of Appeals of Georgia · 1913
- Gilford v. GreenCourt of Appeals of Georgia · 1924
- Stocking v. MourySupreme Court of Georgia · 1907
- Jones v. NortonCourt of Appeals of Georgia · 1911
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