Spencer v. Tilden
New York Supreme Court
Assumpsit, tried at the Oneida circuit, July, 1823 before Williams, C. Judge. The action was upon a written contract in these words: “ April 15th, 1819. For value received, we promise to pay and deliver to John Spencer, or bearer, three hundred and sixty dollars, or twelve good middling cows, and twelve good calves which come of said cows above mentioned, to be paid and delivered at the dwelling house of said Spencer’s now is in, four years from the date, in "Verona.
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Assumpsit, tried at the Oneida circuit, July, 1823 before Williams, C. Judge. The action was upon a written contract in these words: “ April 15th, 1819. For value received, we promise to pay and deliver to John Spencer, or bearer, three hundred and sixty dollars, or twelve good middling cows, and twelve good calves which come of said cows above mentioned, to be paid and delivered at the dwelling house of said Spencer’s now is in, four years from the date, in "Verona. Said cows not to exceed eight years old; nor under four years old. As witness our hands. John Tilden. Ithiel Tilden The…
1Opinion of the Court
Curia, per Savage, Ch. Justice.
The contract was not usurious ; though the plaintiff was a very hard and unconscionable creditor. The interest and principal were both put at hazard to a considerable extent. It was uncertain in 1819, what would be the value of the cows in 1823. If the hazard be slight, and merely colorable, it will not take the case out of the statute; but I do not consider it so in this case. Here was no negotiation for a loan of money. *149it was a bargain by which the plaintiff was pretty certain of making a handsome profit; but by which he might lose.(a)
*150I think the $360 in the…
2Cases cited1 opinion
- Slosson v. BeadleNew York Supreme Court · 1810
3Cited by17 opinions
- Curtis v. . Van BerghNew York Court of Appeals · 1899
- Watt's Ex'rs. v. SheppardSupreme Court of Alabama · 1841
- Thompson v. St. Charles CountySupreme Court of Missouri · 1910
- Mason v. Callender, Flint, & Co.Supreme Court of Minnesota · 1858
- Noyes v. . PhillipsNew York Court of Appeals · 1875
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