Moore v. Beaman
Supreme Court of North Carolina
This was a civil actior, heard on exceptions to the report of a referee, by Winston, J., at Spring Term, 1892, of the Superior Court of Gheene County. The action was brought for foreclosure of mortgage and for possession of the land conveyed therein. By consent, the cause was referred to N. J. Rouse, Esq., under The Code, to try the issues and report his findings of fact and conclusions of law.
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This was a civil actior, heard on exceptions to the report of a referee, by Winston, J., at Spring Term, 1892, of the Superior Court of Gheene County. The action was brought for foreclosure of mortgage and for possession of the land conveyed therein. By consent, the cause was referred to N. J. Rouse, Esq., under The Code, to try the issues and report his findings of fact and conclusions of law. The report of the referee was as follows : FINDINGS OP FACT. 1. That on the 22d day of August, 1873, the defendant N. PI. Beaman and his wife S. C. Beaman executed and delivered to the plaintiff Thomas…
1Opinion of the Court
Clark, J.:
The usury act in force when this contract was entered into was chapter 114, Bat. Rev.; chapter 24, Acts 1886. It does not essentially differ from the present act, and must receive the same construction. The facts of this case are similar to those in Gore v. Lewis, 109 N. C., 359, and for the reasons there given the plaintiff is entitled to recover no *332interest. The Act of 1874-75 increased the penalties and could not affect a pre-existing debt. Besides, it expressly exempted prior valid contracts, which this was to the extent of liability for the principal sum loaned. The present act…
2Cases cited4 opinions
- Green v. Greensboro Female CollegeSupreme Court of North Carolina · 1880
- Arrington v. . GoodrichSupreme Court of North Carolina · 1886
- Wood v. . BarberSupreme Court of North Carolina · 1884
- Moore v. . GoodwinSupreme Court of North Carolina · 1891
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- Cowhick v. ShingleWyoming Supreme Court · 1894
- Saieed v. . AbeyounisSupreme Court of North Carolina · 1940
- Bergman v. BlyCourt of Appeals for the Eighth Circuit · 1895
- Estey v. Capital Investment, Building & Loan Ass'nMichigan Supreme Court · 1902
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