Cole v. Yancey
Missouri Court of Appeals
Appeal from the Saline Circuit Court. — Hon. Richard Field, Judge. (1) The notes referred to in the deed of trust were past due, and the stipulation in the deed of trust that the time of their payment should be extended to the fifteenth day of November, was a new contract, and an obligation to pay, from the date of the deed of trust, interest above the legal rate, to wit, ten percent., on over $10,000. The interest exacted by this contract was usurious, being in excess of…
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Appeal from the Saline Circuit Court. — Hon. Richard Field, Judge. (1) The notes referred to in the deed of trust were past due, and the stipulation in the deed of trust that the time of their payment should be extended to the fifteenth day of November, was a new contract, and an obligation to pay, from the date of the deed of trust, interest above the legal rate, to wit, ten percent., on over $10,000. The interest exacted by this contract was usurious, being in excess of eight per cent. See Acts, 1891, page 171; Staver v. Missimer, 6 Wash. 173; 36 Am. St. Rep. 144. That this contract was a…
1Opinion of the CourtG-ill, J.
On and prior to November, 1893, J. J. Miller and E. Gr. Burns, under the firm name of Miller & Burns, were engaged in merchandising at Slater, Missouri. They were then indebted to Voorhies & Company, of Cincinnati, for goods purchased, in the sum of $3,000, and to A. N. Schuster & Company, of St. Joseph, in a large sum, on promissory notes past due. On said November 3, Miller, for the firm of Miller & Burns, executed a deed of trust on the stock of goods at Slater to plaintiff Cole, as trustee, to secure payment of some ten past due promissory notes, made to Schuster & Company by said Miller…
2Cases cited3 opinions
- State ex rel. Robertson v. HopeSupreme Court of Missouri · 1890
- Stillwell v. AaronSupreme Court of Missouri · 1879
- North v. Walker's AdministratorSupreme Court of Missouri · 1877
3Cited by3 opinions
- Ball v. O'NeillMissouri Court of Appeals · 1896
- State ex rel. Lange v. A. F. Shapleigh Hardware Co.Supreme Court of Missouri · 1898
- Yuen v. FrenchHawaii Supreme Court · 1927