Caisergues v. Dujarreau
Supreme Court of Louisiana
The plaintiff in this case claimed the sum of eighteen thousand seven hundred dollars on a mortage. The mortgage is void, for the interest was included in, and made part of the principal, and computed at twelve percent, which is more than the law allows. Recopilacion de las leyes de Castilla.
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The plaintiff in this case claimed the sum of eighteen thousand seven hundred dollars on a mortage. The mortgage is void, for the interest was included in, and made part of the principal, and computed at twelve percent, which is more than the law allows. Recopilacion de las leyes de Castilla. I. Even admitting that the contract is usurious, and that it is unlawful to include principal and interest in the mortgage, yet the debtor ought to be condemned to the payment of the principal. All usurious contracts are void, says Febrero, execution cannot issue on them, for usury may be pleaded against…
1Opinion of the Court
By the Court,
Lewis, J.
alone. There appear *11to be two kinds of interest known to the laws of Spain, viz: judicial and conventional.
I understand judicial interest to be a certain rate of interest established and declared by a general law of the country, to be computed from the time of the judicial demand, in all cases in which no express stipulation has been made.
By conventional interest, I understand a certain rate of interest agreed upon by the parties which may be more or less than the rate established by the general law of the country, according to the custom and usage of particular places,…
2Cited by2 opinions
- Greffin's Ex'r v. LopezSupreme Court of Louisiana · 1817
- Herman v. SpriggSupreme Court of Louisiana · 1825