J. H. Thompson & Co. v. Matthews
Mississippi Supreme Court
ERROR to the Circuit Court of Lincoln County. Hon. A. G. Mayers, Judge, specially presiding, by exchange with Hon. J. B. Chrisman. John H. Thompson & Co., merchants, sued T. E. Matthews upon an open account, containing a charge of fifteen per cent on the balance claimed to be due as commissions for advances, and also a charge for interest on the sum of the principal debt and commissions.
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ERROR to the Circuit Court of Lincoln County. Hon. A. G. Mayers, Judge, specially presiding, by exchange with Hon. J. B. Chrisman. John H. Thompson & Co., merchants, sued T. E. Matthews upon an open account, containing a charge of fifteen per cent on the balance claimed to be due as commissions for advances, and also a charge for interest on the sum of the principal debt and commissions. Eor the defendant the court gave the following instructions : — 1. “Open accounts, as a matter of course, do not bear interest; but in such cases the jury may or may not allow the plaintiffs legal interest,…
1Opinion of the CourtCampbell, J.
Under sect. 2279 of the Code, a creditor by open account is entitled to six per cent interest, as a legal incident of the debt after its matuiity. The case of Houston v. Crutcher et al., 31 Miss. 51, was decided under the act of 1822 (Hutch. Code, 643, sect. 57), which did not give interest on accounts; but it was remarked in the opinion in that case that the right to interest on debts by open account, “ on principles of justice, would seem to stand on as firm ground as the right to interest upon written contracts for the payment of money.” And by the Code of 1857 and that of 1871 this…
2Cases cited1 opinion
- Houston v. CrutcherMississippi Supreme Court · 1856
3Cited by2 opinions
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