Holmes v. Smythe
Illinois Supreme Court
Appeal from the Circuit Court of Piatt county; the Hon. C. B. Smith, Judge, presiding. Appellees filed their bill in equity in the circuit court of Piatt county against appellants, alleging that appellee Calvin B. Smythe was the owner of certain lots therein described, which he, with his wife, the appellee Aramentia M. Smythe, occupied as a homestead; that on October 4, 1875, appellees executed a mortgage on said premises to the appellant the Monticello Mutual Building, Loan…
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Appeal from the Circuit Court of Piatt county; the Hon. C. B. Smith, Judge, presiding. Appellees filed their bill in equity in the circuit court of Piatt county against appellants, alleging that appellee Calvin B. Smythe was the owner of certain lots therein described, which he, with his wife, the appellee Aramentia M. Smythe, occupied as a homestead; that on October 4, 1875, appellees executed a mortgage on said premises to the appellant the Monticello Mutual Building, Loan and Homestead Association, to secure the payment of a note for-$600, with interest at the rate of ten .per cent per…
1Opinion of the CourtJustice Soholpield
When we first considered this case we were under a. misapprehension, resulting from the meagreness of the statement in regard to the facts. We then assumed that the promissory note was payable, at all events, for the amount expressed upon its face, together with ten per centum per annum interest thereon, and that the premium bid had, also, in good faith been paid, and we thereupon concluded that the transaction was usurious, and in so far as any law, applicable alone to such corporations, purported to give sanction to and legalize it, it should be held void because in conflict with certain…
2Cases cited3 opinions
- Lawrence v. CowlesIllinois Supreme Court · 1852
- Hunt v. MooreMassachusetts Supreme Judicial Court · 1850
- Bane v. GridleyIllinois Supreme Court · 1873
3Cited by18 opinions
- Union Savings Bank & Trust Co. v. DottenheimSupreme Court of Georgia · 1899
- Cook v. Equitable Building & Loan Ass'nSupreme Court of Georgia · 1898
- Washington Investment Ass'n v. StanleyOregon Supreme Court · 1901
- People's Loan & Homestead Ass'n of Joliet v. KeithIllinois Supreme Court · 1894
- Julien v. Model Building, Loan & Investment Ass'nWisconsin Supreme Court · 1902
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