Bain v. Peters
U.S. Circuit Court for the District of Eastern Virginia
In Equity. On petition of receiver to be allowed interest upon a preferred debt, the principal of which has been paid.
1Opinion of the CourtHughes, J.
There are cases in which sums of money made payable by instruments defining them do not carry interest after the date when they become payable, if payment is deferred. They are cases in which the circumstances and language under and by which the sums are made payable forbid the implication that interest is to accrue. A case of this class was that of Murphy’s Appeal, 6 Watts & S. 223, cited at bar, in which there was an assignment in trust, which provided, among other things, that the trustee should “pay and satisfy in full the sum of $5,178.32 to Placerte Cazo, a minor, to be paid to her, or…
2Cases cited5 opinions
- National Bank of the Commonwealth v. Mechanics' National BankSupreme Court of the United States · 1877
- Young v. GodbeSupreme Court of the United States · 1873
- Early v. RogersSupreme Court of the United States · 1854
- Delaware Insurance v. DelaunieSupreme Court of Pennsylvania · 1811
- Murphy's AppealSupreme Court of Pennsylvania · 1843