Raynolds v. Carter
Supreme Court of Virginia
Debt, in the county court of Frederick, by Cartel' against Jane Raynolds, Thomas Raynolds and James Wigginton, on a bond executed by the defendants to the plaintiff as administrator of Jackson, for 200 dollars. Plea, the statute of usury. The defendant Jane Raynolds died pending the action, and it was prosecuted against the surviving defendants.
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Debt, in the county court of Frederick, by Cartel' against Jane Raynolds, Thomas Raynolds and James Wigginton, on a bond executed by the defendants to the plaintiff as administrator of Jackson, for 200 dollars. Plea, the statute of usury. The defendant Jane Raynolds died pending the action, and it was prosecuted against the surviving defendants. The parties agreed, that the following evidence should be taken and received as a case agreed between them. 1. The bond on which the suit was brought; which was a single bill under seal, executed by Jane and Thomas Raynolds and Wigginton, to Carter as…
1Opinion of the Court
Tucker, P.
The judgment in this case is, in my opinion, clearly erroneous. Two questions are made: ,1. whether the original contract was usurious ? and 2. whether RaynoMs, by giving the new bond, has lost the right of setting up the defence of usury ?
As to the first, it was argued, that there is no usury, because the principal sum was put in hazard, and the money was not to be returned at all events. If this were so, and it did not appear that the scheme was resorted to as a device to avoid the statute against usury, there could be no question that the transaction would not be usurious. But I…
2Cases cited2 opinions
- Metcalfe v. City of SeattleWashington Supreme Court · 1890
- Williams v. PriceSupreme Court of Virginia · 1817
3Cited by2 opinions
- Bowen v. Mount Vernon Sav. BankCourt of Appeals for the D.C. Circuit · 1939
- Dickson v. City of St. PaulSupreme Court of Minnesota · 1908