H. Wetter Manufacturing Co. v. Dinkins
Mississippi Supreme Court
From the chancery court of Madison county. Hon. H. C. Conn, Chancellor. W. L. Dinkins, a merchant, failed in business and made a general assignment of his effects, preferring certain creditors. Appellant, an unpreferred creditor, filed the bill in this case to set aside the assignment and subject the property, claiming that the assignment was fraudulent and void because of the preference of a certain usurious debt.
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From the chancery court of Madison county. Hon. H. C. Conn, Chancellor. W. L. Dinkins, a merchant, failed in business and made a general assignment of his effects, preferring certain creditors. Appellant, an unpreferred creditor, filed the bill in this case to set aside the assignment and subject the property, claiming that the assignment was fraudulent and void because of the preference of a certain usurious debt. From a decree sustaining a demurrer aud dismissing the bill, this appeal is prosecuted. The opinion contains a further statement of the case. In Torrey v. Grant, 10 Smed. & M., 89,…
1Opinion of the Court · WoodsWoods, J.
On its undisputed facts, this case is readily resolvable on elementary principles. These facts are, briefly, that the appellee, Dinkins, was indebted to Parker, the preferred creditor in the deed of assignment, computing and including usurious interest, in the sum of $1,620.93; that Parker is, by the terms' of the assignment, preferred for $1,550 only, and this latter amount is less than the principal debt due by the assignor, Dinkins, to Parker, with legal interest thereon.
The elementary principle is, that the debtor who has contracted to pay usurious interest, may waive his personal right…
Also in this document: Opinion of the Court · Woods.
2Cases cited1 opinion
- Dickerson v. ThomasMississippi Supreme Court · 1890
3Cited by3 opinions
- Hiller v. EllisMississippi Supreme Court · 1895
- Goodbar Shoe Co. v. MontgomeryMississippi Supreme Court · 1895
- Hardin v. Grenada BankMississippi Supreme Court · 1938