Tousey v. Robinson
Court of Appeals of Kentucky
CASE 62 — PETITION ORDINARY APPEAL PROM KENTON CIKOUIT COURT. Tousey, as assignee of Williams, sued Robinson upon the note mentioned in the opinion. The law and facts wei'e submitted to the court, and the circuit court having allowed the claim for usury setup by the defendant, the plaintiff prosecutes this appeal. The remaining facts appear in the opinion of the court.
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CASE 62 — PETITION ORDINARY APPEAL PROM KENTON CIKOUIT COURT. Tousey, as assignee of Williams, sued Robinson upon the note mentioned in the opinion. The law and facts wei'e submitted to the court, and the circuit court having allowed the claim for usury setup by the defendant, the plaintiff prosecutes this appeal. The remaining facts appear in the opinion of the court. The contract is not for the loan or forbearance of money, and is not usurious. {Rev. Stat., secs. 1 and 2, chap. 53, y». 419.) The debt bears eight per cent, per annum interest, which is usurious. {Rev. Stat., secs. 1 and 2,…
1Opinion of the Court
JUDGE DUVALL
delivered the opinion op the court:
By section 2, chap. 53, of the Revised Statutes, {p. 419,) it is provided that “ all contracts and assurances made, directly or indirectly, for the loan or forbearance of money, or other thing, at a greater rate than legal interest, shall be void for the excess over the legal interest.”
It appears that the note sued upon in this case was executed in pursuance of a contract by which Williams sold to the appellee a tract of land at the price of $2,000, payable two years after the date of the sale, with interest payable semi*664annually, at the rate of…
2Cited by7 opinions
- Union Savings Bank & Trust Co. v. DottenheimSupreme Court of Georgia · 1899
- Williams v. Eagle BankCourt of Appeals of Kentucky · 1916
- Pendergrass v. New York Life InsuranceSupreme Court of Georgia · 1927
- Nantz v. HurstCourt of Appeals of Kentucky · 1915
- Henry v. DavisCourt of Appeals of Kentucky · 1873
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