Turpin v. Povall
Supreme Court of Virginia
In April 1827, Philip Turpin filed a bill in the supériour court of chancery holden at Richmond, against Richard Povall, Edward Johnson, Loflin N. Elicit and James H. Lynch, setting forth, that on the 6th of May 1816, Turpin and his wife executed to Johnson a deed, by which they conveyed to him a large number of lots in the city of Richmond, upon trust that Johnson should sell part, and apply the proceeds to improve the rest, for the use and benefit of Turpin.
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In April 1827, Philip Turpin filed a bill in the supériour court of chancery holden at Richmond, against Richard Povall, Edward Johnson, Loflin N. Elicit and James H. Lynch, setting forth, that on the 6th of May 1816, Turpin and his wife executed to Johnson a deed, by which they conveyed to him a large number of lots in the city of Richmond, upon trust that Johnson should sell part, and apply the proceeds to improve the rest, for the use and benefit of Turpin. That early in 1818, Johnson having (as the plaintiff understood) borrowed 5000 dollars from Povall, executed a bond to Povall for the…
1Opinion of the CourtBrockenbrough, J.
After an attentive examination of the bill, answers, depositions and documentary evidence in the cause, I have come to the conclusion that there were two loans of money by Povall to Johnson; that 5000 dollars were lent at one time, and 3000 at another; that the rate of interest reserved at the time of the loans was 10 per cent, per annum; that these two principal sums were consolidated in the bond of 8000 dollars executed by Turpin, and that the bonds taken and the deeds of trust executed to secure the repayment of the sums borrowed were infected with usury.
The epestion then is, what is the…
2Cases cited4 opinions
- De Wolf v. JohnsonSupreme Court of the United States · 1825
- Young v. ScottCourt of Appeals of Virginia · 1826
- Grayson v. MoncureSupreme Court of Virginia · 1829
- McPherrin v. KingSupreme Court of Virginia · 1822