Dearborn v. Nelson
Supreme Court of New Hampshire
Assumpsit, for usurious interest received by Berry, the defendant’s intestate, from the plaintiff. Facts found by a referee. The plaintiff, having paid Berry more than six per cent, interest on notes given for hired money, made an assignment of his claim against Berry’s estate for the usury; and this suit is brought for the benefit of the assignee. At the time of the assignment, the defendant, as administrator, held two of the notes, and they had not been paid.
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Assumpsit, for usurious interest received by Berry, the defendant’s intestate, from the plaintiff. Facts found by a referee. The plaintiff, having paid Berry more than six per cent, interest on notes given for hired money, made an assignment of his claim against Berry’s estate for the usury; and this suit is brought for the benefit of the assignee. At the time of the assignment, the defendant, as administrator, held two of the notes, and they had not been paid. They were originally secured by mortgages, which have been foreclosed on land of less value than the amounts of the debts. In a suit…
1Opinion of the CourtDoe, C. J.
The assignee of the plaintiff’s non-negotiable right of action took it subject to the legal defences existing at the time of the assignment. His acquisition of an equitable right did not extinguish or avoid the defendant’s equitable set-off. Sanborn v. Little, 3 N. H. 539; Wiggin v. Damrell, 4 N. H. 69; Duncklee v. G. S. M. Co., 23 N. H. 245; Thompson v. Emery, 27 N. H. 269. The foreclosure of the mortgages operated as payment of the mortgage debts to the value of the property obtained by the foreclosure. The amount of the payments thus received may be found in this suit. The pending…
2Cited by2 opinions
- Lane v. BarronSupreme Court of New Hampshire · 1886
- McKeen v. CookSupreme Court of New Hampshire · 1905