Towslee v. Durkee
Wisconsin Supreme Court
APPEAL from the Circuit Court for Kenosha County. This action was brought in August, 1859, on a promissory note for $2,000, dated December 1st, 1857, made by tlie defendants, payable to tbe order of the plaintiff, twenty-eight months after date, with interest at 12 per cent, per annum, payable semi-annually.
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APPEAL from the Circuit Court for Kenosha County. This action was brought in August, 1859, on a promissory note for $2,000, dated December 1st, 1857, made by tlie defendants, payable to tbe order of the plaintiff, twenty-eight months after date, with interest at 12 per cent, per annum, payable semi-annually. The plaintiff claimed to recover $240, being the two installments of interest which became due December 1st, 1858, and June 1st, 1859. The defense was usury, and the answer alleged that on the 29th of May, 1855, the defendants, to secure the payment of $8,800 loaned to them by the City…
1Opinion of the Court
By the Court,
Paine, J.
The first question as to the sufficiency of the answer in setting up usury, arises upon the construction of the words “ legal interest,” which it contains. It alleges a loan of money by the bank to the defendants, and a series of renewals; that at the time of the loan, the note given therefor was made payable at the city of New York, with the express purpose of exacting from the borrowers the amount of exchange “ in addition to the legal rate of interest,” and that they were required to pay, and did promise to pay, such exchange, as a condition of the loan: while the…
2Cases cited6 opinions
- Cleveland v. LoderNew York Court of Chancery · 1839
- Merritt & Myers v. BentonNew York Supreme Court · 1833
- Seneca County Bank v. SchermerhornCourt for the Trial of Impeachments and Correction of Errors · 1845
- State Bank v. EnsmingerIndiana Supreme Court · 1844
- Oliver Lee Co's Bank v. . WalbridgeNew York Court of Appeals · 1859
1 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- German Bank v. DeShonSupreme Court of Arkansas · 1883
- Friedman v. Wisconsin Acceptance Corp.Wisconsin Supreme Court · 1927
- Marlet v. HinmanWisconsin Supreme Court · 1890
- Wood v. CuthbertsonSupreme Court Of The Territory Of Dakota · 1884
- Durkee v. City Bank of KenoshaWisconsin Supreme Court · 1860
3 more not listed; retrieve them via the Exa API.