In re Stern
Court of Appeals for the Eighth Circuit
Petition for Revision of Proceedings of the District Court of the United States for the Northern District of Iowa, in Bankruptcy. A claim for $9,377.64, filed against the estate of Ed.
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Petition for Revision of Proceedings of the District Court of the United States for the Northern District of Iowa, in Bankruptcy. A claim for $9,377.64, filed against the estate of Ed. C. Brown and Noah F. Worth, bankrupts, by R. W. Ady, as receiver of the Sheldon State Bank, of Sheldon, Iowa, was allowed by the referee, over the objection of certain creditors that the claim was founded upon a usurious contract, that considerable payments of illegal interest had been made thereon and that in consequence the claim should be largely diminished. At the request of the objecting creditors the…
1Opinion of the CourtVan Devanter, Circuit Judge
While it is well settled by the decisions of the Supreme Court of Iowa that the defense of usury under the statutes of that state is personal to the debtor and may not be interposed by a stranger to the contract, no decision of that court has gone so far as to hold that the defense is not open to the debtor’s administrator, executor, guardian, trustee in bankruptcy, or like legal representative. No question is presented, therefore, as to the effect to be given to such a decision in proceedings under the national bankruptcy act, and we are at liberty to follow the rule which we deem to be…
2Cases cited10 opinions
- Tiffany v. Boatman's InstitutionSupreme Court of the United States · 1874
- In re LewensohnCourt of Appeals for the Second Circuit · 1903
- Chatfield v. O'DwyerCourt of Appeals for the Eighth Circuit · 1900
- In re KelloggCourt of Appeals for the Second Circuit · 1903
- Wheelock v. . LeeNew York Court of Appeals · 1876
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3Cited by15 opinions
- Nuckolls v. Bank of CaliforniaCalifornia Supreme Court · 1937
- Kelter v. American Bankers Finance Co.Supreme Court of Pennsylvania · 1932
- Charles A. Riley Co. v. W. T. Sears & Co.Supreme Court of North Carolina · 1911
- Amick v. Mortgage Security CorporationCourt of Appeals for the Eighth Circuit · 1929
- Rosenbaum v. DuttonCourt of Appeals for the Eighth Circuit · 1913
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