Walker v. President of the Bank of Washington
Supreme Court of the United States
'This case was-brought up by writ of error from the Circuit Court of the United States for the District of Columbia, in the county, of Washington. The facts were these.
Read the full summary
'This case was-brought up by writ of error from the Circuit Court of the United States for the District of Columbia, in the county, of Washington. The facts were these. On ,the 30th o£ January, 1840, Walker, the plaintiff in error, addressed the following letter to the bank: ■ “ Gentlemen : — I am desirous of obtaining a loan of twenty-five thousand dollars, to purchase cattle for fulfilling my contract with the government, for Ni York station, say 2000 barrels, and amounting to nearly. $27,000. ' “ In security for the above money I’ll assign all my right and title to the beef now on hand,…
1Opinion of the CourtJustice Wayne
This suit is brought upon a promissory note, given in renewal of. a former note, which had been discounted by the defendants in error. The defendants in the court below deny that the plaintiffs have any right of action upon the note sued on, on the ground that the first note was tainted with usury.
Such is' the law in such a case. The mere change of securities for the same usurious loan to the same party who received the usury, or to a person having notice of the usury, does not purge th'e original illegal consideration, so as to give a right of action on the new security. Every subsequent…
2Cases cited5 opinions
- Scott v. LloydSupreme Court of the United States · 1835
- Chesapeake and Ohio Canal Company v. Knapp and OthersSupreme Court of the United States · 1835
- Levy v. GadsbySupreme Court of the United States · 1805
- Greenleaf v. BirthSupreme Court of the United States · 1835
- Reed v. SmithNew York Supreme Court · 1823
3Cited by13 opinions
- Hotel Co. v. WadeSupreme Court of the United States · 1878
- Higgins v. McCreaSupreme Court of the United States · 1886
- Ebell v. BursingerTexas Supreme Court · 1888
- South Mississippi Airways v. Chicago & Southern AirlinesMississippi Supreme Court · 1946
- Vickery v. DicksonNew York Supreme Court · 1861
8 more not listed; retrieve them via the Exa API.