Tiffany v. Boatman's Institution
Supreme Court of the United States
Appeal from the Circuit Court for the District of Missouri; the ease being thus: There was living in St. Louis in 1869, and for many years previously, a person named Darby, originally, as it seemed, -a metpber of the bar, but who afterwards entered into various sorts of business, including, as a chief one, that of an exchange broker, and a so-called “ banker.” He had no capital worth speaking of, when he entered into them, nor any considerable cash means at any time.
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Appeal from the Circuit Court for the District of Missouri; the ease being thus: There was living in St. Louis in 1869, and for many years previously, a person named Darby, originally, as it seemed, -a metpber of the bar, but who afterwards entered into various sorts of business, including, as a chief one, that of an exchange broker, and a so-called “ banker.” He had no capital worth speaking of, when he entered into them, nor any considerable cash means at any time. He was always scheming, and as respected ready money always more or less embarrassed. He was, however, regarded as a man of…
1Opinion of the CourtJustice Davis
delivered the opinion of the court. '
The general statute of Missouri concerning usury allows an individual to receive ten per cent, per annum interest ff>r the loan of money; but, if more be taken and suit is brought to enforce the contract, and the plea of usury be interposed, the whole interest is forfeited to the proper county for the use of.schools. The debtor is not released from his obliga-, tion to pay, but the interest is diverted from the parties and appropriated for school purposes. If,.however, the borrower suffers judgment to go against him, wifhout pleading usury, or if, without…
2Cases cited2 opinions
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- Nichols v. FearsonSupreme Court of the United States · 1833
3Cited by67 opinions
- United States v. MorganSupreme Court of the United States · 1939
- Atlantic Coast Line Railroad v. FloridaSupreme Court of the United States · 1935
- In Re Texlon CorporationCourt of Appeals for the Second Circuit · 1979
- Missouri, Kansas & Texas Trust Co. v. KrumseigSupreme Court of the United States · 1899
- Carozza v. Federal Finance & Credit Co.Court of Appeals of Maryland · 1925
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