Marvin v. Fester
New York Supreme Court
This was an action of assumpsit, tried at the Rensselaer circuit in June, 1830, before the Hon. James Vanderpoel, one of the circuit judges.' The facts upon which the questions of law presented in this case arise are as follows: On the 17th September, 1828, the defendants purchased of the plaintiffs four promissory notes which they held against a mercantile firm transacting business under the name of Sprague & Dann ; these notes all bore date on the 17th March, 1828, and…
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This was an action of assumpsit, tried at the Rensselaer circuit in June, 1830, before the Hon. James Vanderpoel, one of the circuit judges.' The facts upon which the questions of law presented in this case arise are as follows: On the 17th September, 1828, the defendants purchased of the plaintiffs four promissory notes which they held against a mercantile firm transacting business under the name of Sprague & Dann ; these notes all bore date on the 17th March, 1828, and were payable as follows: $1000 on the 1st August, 1828, $1000 on the 1st October, 1828, $1000 on the 1st December, 1828,…
1Opinion of the Court
By the Court, Savage, C. J.
The first objection is, that the original notes were usurious upon their face, and therefore the present plaintiffs had notice of the usury. It is true that the notes promise the payment of interest from a time anterior to the date of the notes, and if the notes were to be considered as evidence of money lent at their date, there would perhaps be more than seven per cent, reserved ; but it is well known that notes are given for property sold, and upon other business transactions, as well as for money lent. Usury is a defence which must be strictly proved, and the…
2Cited by11 opinions
- Fellows v. . LongyorNew York Court of Appeals · 1883
- Smith v. WebbNew York Supreme Court · 1847
- Ewing v. HowardSupreme Court of the United States · 1869
- Smith v. . MarvinNew York Court of Appeals · 1863
- Thomas v. . MurrayNew York Court of Appeals · 1865
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