Clark v. Missouri Guarantee Saving & Building Ass'n
Missouri Court of Appeals
Appeal from the Linn Circuit Court. — Hon. J. P. Butter, Judge. (1) The loan to plaintiff was not usurious because made to him in strict compliance with the statute of Missouri. R. S. 1889, sec. 2812; Laws 1895, p. 108, secs. 7 and 9; Brown v. Archer, 62 Mo. App. 290; Hughes v. Association (Term.), 46 S. W. Rep. 362; Eng. & Tr.
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Appeal from the Linn Circuit Court. — Hon. J. P. Butter, Judge. (1) The loan to plaintiff was not usurious because made to him in strict compliance with the statute of Missouri. R. S. 1889, sec. 2812; Laws 1895, p. 108, secs. 7 and 9; Brown v. Archer, 62 Mo. App. 290; Hughes v. Association (Term.), 46 S. W. Rep. 362; Eng. & Tr. Co. v. Donovan, 147 Mo. 622. The application and written bid and the action of the board of directors show a full compliance with the law. . (2) The alleged by-law fixing the minimum premium was ultra vires, of no legal effect. Bertche v. L. & Inv. Ass’n, 147 Mo. 343.…
1Opinion of the CourtSmith, P. J.
— The plaintiff, James W. Clark, was the owner of ten shares of the par value of one hundred dollars each in the capital stock of the defendant, a building and loan association organized under the statutes of this state. On June 15, 1891, the plaintiffs borrowed from the defendant one thousand dollars and to secure the payment of which the *391plaintiff, James W. Clark, pledged as collateral his said shares of stock. As a further security the plaintiffs executed a deed of trust on certain real estate owned by them and situate in the city of Brookfield.
The plaintiff, James W. Clark, purchased his…
2Cases cited8 opinions
- Brown v. Lasalle ArcherMissouri Court of Appeals · 1895
- Bertche v. Equitable Loan & Investment Ass'nSupreme Court of Missouri · 1898
- Moore v. Cameron Building & Loan Ass'nMissouri Court of Appeals · 1898
- Price v. Empire Loan Ass'nMissouri Court of Appeals · 1898
- Barnes v. Missouri Guarantee Savings & Building Ass'nMissouri Court of Appeals · 1900
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3Cited by4 opinions
- McDonnell v. De Soto Savings & Building Ass'nSupreme Court of Missouri · 1903
- Holmes v. Royal Loan Ass'nMissouri Court of Appeals · 1908
- Arbuthnot v. Brookfield Loan & Building Ass'nMissouri Court of Appeals · 1903
- Intermountain Building & Loan Ass'n v. Casper Mutual Building & Loan Ass'nWyoming Supreme Court · 1934