Carter v. Farthing
Court of Appeals of Kentucky
Case 17 — Action by Coleman Farthing against J. C. Carter on Purchase Money Land Notes. APPEAL FROM GRAVES CIRCUIT COURT. Judgment for Plaintiff and Defendant Appeals. POINTS AND AUTHORITIES -CITED. 1. The amount of money assumed to be paid is one entire debt from the time it is agreed to be paid, notwithstanding it may be divided up into aliquot parts maturing at different times.
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Case 17 — Action by Coleman Farthing against J. C. Carter on Purchase Money Land Notes. APPEAL FROM GRAVES CIRCUIT COURT. Judgment for Plaintiff and Defendant Appeals. POINTS AND AUTHORITIES -CITED. 1. The amount of money assumed to be paid is one entire debt from the time it is agreed to be paid, notwithstanding it may be divided up into aliquot parts maturing at different times. Beard v. Hopkinsville, 95 Ky., 239; 44 Amer. -S. R., 222. 2. As long as any part of a debt remains unpaid, usury previously paid may be credited upon the remainder, no matter how long the usury has been paid. 4 Ky.…
1Opinion of the Court
Opinion op the court, by
JUDGE SETTLE
Affirming.
On the 6th. of October, 1887, appellee sold and by deed conveyed to appellant three parcels of land, aggregating 126 acres, situated in Graves county, Ky., at the agreed price of $1,650. Three hundred and fifty dollars of this sum was immediately paid by appellant, and he executed three several notes for the remainder of the consideration as follows: Two of $500 each, due January 1, 1889, and January 1, 1890, respectively, and one of $800, due January 1, 1891; all to bear interest from January 1, 1S8S, until paid, at the rate of 8 per cent, per…
2Cases cited2 opinions
- Kampmann v. D. Sullivan & Co.Court of Appeals of Texas · 1901
- Riddle v. RosenfeldIllinois Supreme Court · 1882
3Cited by1 opinion
- Watts v. ChresteCourt of Appeals of Kentucky (pre-1976) · 1937