Guilford School District No. 3 v. Dakota Trust Co.
North Dakota Supreme Court
Action to recover. on a surety bond in District Court, Stutsman County, Coffey, J. Defendant has appealed from a judgment in favor of the plaintiff. Moneys after due bear interest at the same rate as before maturity, and the statute rate of interest takes effect after the maturity of the obligation only in the event that there is no interest rate fixed in the contract, to be paid either before or after maturity. Overton v. Bolton (Tcnn.) 24 Am.
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Action to recover. on a surety bond in District Court, Stutsman County, Coffey, J. Defendant has appealed from a judgment in favor of the plaintiff. Moneys after due bear interest at the same rate as before maturity, and the statute rate of interest takes effect after the maturity of the obligation only in the event that there is no interest rate fixed in the contract, to be paid either before or after maturity. Overton v. Bolton (Tcnn.) 24 Am. Rep. 373; Hubbard v. Calahan, 42 Conn. 534, 19 Am. Rep.- 575; Hopkins v. Crittendon, 10 Tex. 189; Findley v. Hall, 12 Ohio, 610; Spencer v. Maxfield,…
1Per curiam
This cause was heretofore before this court; 46 N. D. 307, 178 N. W. 727. The same question of law is involved in this case as has just been considered in Stutsman County v. Dakota Trust Co. ante, 228, 181 N. W. 586. The decision in that case governs in this case. It is accordingly ordered that the judgment be modified by the allowance of interest at 7 per cent per annum upon the principal demand until July 1, 1915, and thereafter at 6 per cent per annum, and, as so modified, that it be affirmed. Neither party will recover costs upon this appeal.
Robinson, Oh. J., and Bronson, Christianson,…
2Cases cited2 opinions
- Guilford School District No. 3 v. Dakota Trust Co.North Dakota Supreme Court · 1920
- Stutsman County v. Dakota Trust Co.North Dakota Supreme Court · 1921