Little v. Hooker Steam Pump Co.
Missouri Court of Appeals
Appeal from St. Louis City Circuit Court. — Hon. O. Orrick Bishop, Judge. (1) The test of usury in a contract is whether it would, if performed, result in securing a greater rate of profit on the subject-matter than is allowed by law.
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Appeal from St. Louis City Circuit Court. — Hon. O. Orrick Bishop, Judge. (1) The test of usury in a contract is whether it would, if performed, result in securing a greater rate of profit on the subject-matter than is allowed by law. Webb on Usury, par. 29. Usury may be pleaded in defensa of civil actions in this State, and same in excess of eight per cent per annum shall be deemed payment and credited upon the principal debt, whether paid as commission or brokerage, or as payment upon the principal, or as interest on said indebtedness, and all the costs of the action shall be taxed against…
1Opinion of the CourtBland, P. J.
Suit on two promissory notes, commenced before a justice of the peace and in due course appealed to the St. Louis Circuit Court by Sallie C. Farrar, the other defendants not joining in the appeal. The cause was tried de novo in the circuit court without the aid of a jury. Judgment was rendered for plaintiff on both notes. The defense was usury. The prinicpal of one of the notes was four hundred and fifty dollars and the other three hundred and sixty dollars, and both were given for borrowed money. The loans were negotiated by W. C. Farrar, a son of Sallie C. Farrar, through John Mackler, a…
2Cases cited6 opinions
- James v. Mutual Reserve Fund Life Ass'nSupreme Court of Missouri · 1899
- Stillman v. . NorthrupNew York Court of Appeals · 1888
- Call v. PalmerSupreme Court of the United States · 1885
- Weilandy v. LemuelSupreme Court of Missouri · 1871
- Singer Manufacturing Co. v. StephensSupreme Court of Missouri · 1902
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3Cited by7 opinions
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- Turner v. Young'sCourt of Appeals of Kentucky · 1913
- Allen v. NewtonMissouri Court of Appeals · 1924
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