Glasscock v. Glasscock
Supreme Court of Missouri
Appeal from Balls Circuit Court. — Hon. John T. Redd, Judge. 1. The agreement to pay compound interest is predicated upon a forbearauce to sue upon a valid claim, which is always a sufficient consideration to support a promise. Chitty on Cont., (11th Am. Ed.) Yol. 1, pp. 35, 36 ; Stewart v. Petree, 14 Am.
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Appeal from Balls Circuit Court. — Hon. John T. Redd, Judge. 1. The agreement to pay compound interest is predicated upon a forbearauce to sue upon a valid claim, which is always a sufficient consideration to support a promise. Chitty on Cont., (11th Am. Ed.) Yol. 1, pp. 35, 36 ; Stewart v. Petree, 14 Am. Rep. 332. 2. Where no special time of forbearance is fixed by agreement, the law will imply a reasonable time to be meant by the parties, Chitty on Cont., pp. 40,41; and the question of reasonable time is to be determined from the circumstances of the parties at the time the contract is…
1Opinion of the CourtHough, J.
— The only question presented by the record in this cause, is the sufficiency of the following petition: “Plaintiff' states that on the 13th day of November, 1860, the defendant (with one James M. Mills, who is not sued in this cause,) executed and delivered to plaintiff' their promissory note, by which they promised, for value received, to pay plaintiff, thirty days after the date thereof, the sum of four thousand eight hundred and eighty-two and 56-100 dollars, with interest thereon from date, at the rate of ten per cent, per annum. Plaintiff further states that on or about the 7th day of…
2Cases cited2 opinions
- Clark v. RusselSupreme Court of Pennsylvania · 1834
- Hamaker v. EberleySupreme Court of Pennsylvania · 1810
3Cited by9 opinions
- Bridges v. StephensSupreme Court of Missouri · 1896
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- Chiles v. WallaceSupreme Court of Missouri · 1884
- Starr Piano Co. v. BakerAlabama Court of Appeals · 1913
- The University Bank v. MajorMissouri Court of Appeals · 1935
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