American Freehold Land & Mortgage Co. v. Jefferson
Mississippi Supreme Court
From the chancery court of Coahoma' county. Hon. W. R. Trigg, Chancellor. The opinion states the facts. It may be added that the statutes of New York provide that contracts for the loan of money at a rate greater than six per cent, per annum shall be void; and, further, that the court of chancery shall decree such contracts void, and enjoin any prosecution thereon, and order the same to be surrendered and canceled. 3 Rev. Stat. N. Y., 2254, § 8. In Tennessee it is usurious…
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From the chancery court of Coahoma' county. Hon. W. R. Trigg, Chancellor. The opinion states the facts. It may be added that the statutes of New York provide that contracts for the loan of money at a rate greater than six per cent, per annum shall be void; and, further, that the court of chancery shall decree such contracts void, and enjoin any prosecution thereon, and order the same to be surrendered and canceled. 3 Rev. Stat. N. Y., 2254, § 8. In Tennessee it is usurious to contract for more than six per cent, per annum. Code of Tenn., p. 471. We concede that, since Parchman v. McKinney, 12…
1Opinion of the CourtCooper, J.
The appellees exhibited their bill in the chancery court of Coahoma county against the American Freehold Land & Mortgage Company and J. II. Watson, trustee, in a deed of trust executed by them to secure certain notes to said company. The purpose of the hill is to perpetually enjoin said defendants from causing sale to be made, in compliance with the powers contained in said deed, for the payment of the notes, and also to have such security canceled.
The bill charges that* the appellees, in March, 1886, were residents of the city of Memphis, Tennessee, and the defendant company was a…
2Cases cited5 opinions
- Fanning v. DunhamNew York Court of Chancery · 1821
- Deans v. RobertsonMississippi Supreme Court · 1886
- Long v. McGregorMississippi Supreme Court · 1887
- Norcum v. LumMississippi Supreme Court · 1857
- Dickerson v. ThomasMississippi Supreme Court · 1890
3Cited by19 opinions
- Green v. Northwestern Trust Co.Supreme Court of Minnesota · 1914
- Patterson v. WymanSupreme Court of Minnesota · 1919
- Dupree v. Virgil R. Coss Mortgage CompanySupreme Court of Arkansas · 1924
- Castleman v. Canal Bank & Trust Co.Mississippi Supreme Court · 1934
- Purvis v. WoodwardMississippi Supreme Court · 1901
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