United States Savings & Loan Co. v. Beckley
Supreme Court of Alabama
Appeal from the City Court of Birmingham. Heard before Hon. W. W. Vvilkeeson. The bill in this cause was filed by Wm. G. Beckley against the United States Savings & Loan Company, md sought to have the contract therein set up declared usurious,.and to be relieved of the usury, by paying the fi 1! amount borrowed, together with such interest as the court should adjudge he was bound in equity to pay.
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Appeal from the City Court of Birmingham. Heard before Hon. W. W. Vvilkeeson. The bill in this cause was filed by Wm. G. Beckley against the United States Savings & Loan Company, md sought to have the contract therein set up declared usurious,.and to be relieved of the usury, by paying the fi 1! amount borrowed, together with such interest as the court should adjudge he was bound in equity to pay. The court below, upon submission on the pleadings and proof, granted complainant the relief prayed, and ordered a reference to the register to ascertain the amount due on the mortgage, and from this…
1Opinion of the Court
TYSON, J-
The issue presented by the pleadings in this cause is, whether the note and mortgage executed by complainant to the respondent is an Alabama Or a Minnesota contract It is not contended in argument by complainant that the mortgage is usurious if it is a Min*122nesota contract, nor isi it insisted by respondent that it is not usurious if it is an Alabama contract.
It is undoubtedly the law as said in Pioneer Savings & Loan Co. v. Nonnemacher (127 Ala. 545), “that where a contract is made in one State to be performed in another State the parties may contract for the payment oi the highest…
2Cases cited4 opinions
- Hayes v. Southern Home Building & Loan Ass'nSupreme Court of Alabama · 1899
- Pioneer Savings & Loan Co. v. NonnemacherSupreme Court of Alabama · 1900
- McGarry v. NicklinSupreme Court of Alabama · 1895
- Farmers Saving's & Building & Loan Ass'n v. Kent & SabotkaSupreme Court of Alabama · 1901
3Cited by8 opinions
- Lawson v. TrippUtah Supreme Court · 1908
- Midland Savings & Loan Co. v. HendersonSupreme Court of Oklahoma · 1915
- Alger-Sullivan Lumber Co. v. Union Trust Co.Supreme Court of Alabama · 1928
- Beckley v. U. S. Savings & Loan Co.Supreme Court of Alabama · 1906
- O'Toole v. MeysenburgCourt of Appeals for the Eighth Circuit · 1918
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