National Bank v. Johnson
Supreme Court of the United States
ERROR to the Supreme Court of the State of New York. Tit is action was brought in the Supreme Court of the State of Now York by Johnson, to recover of the National Bank of Gloversville penalties, alleged to have been. incurred by it under sects. 5197 and 5198 of the Revised Statutes of tbe United States. • These sections are as follows: — “Sect. 5197. Any association may take, receive, reserve, and charge on any loan or discount made, or upon any note, bill of exchange, or…
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ERROR to the Supreme Court of the State of New York. Tit is action was brought in the Supreme Court of the State of Now York by Johnson, to recover of the National Bank of Gloversville penalties, alleged to have been. incurred by it under sects. 5197 and 5198 of the Revised Statutes of tbe United States. • These sections are as follows: — “Sect. 5197. Any association may take, receive, reserve, and charge on any loan or discount made, or upon any note, bill of exchange, or other evidence of debt, interest at the rate allowed by the laws of the State, Territory, or district where the bank is…
1Opinion of the CourtJustice Matthews
' It is contended, on behalf of the plaintiff in' error, that the sections of the Revised Statutes in question were intended only to prevent national banks from violating the usury laws of the State in which they were severally organized and established ; and that while, by the law of New York, it is usurious to loan or advance money to ■ a party upon his own paper, or upon paper made for his accommodation, at a greater rate of interest or discount than seven per cent per annum, it is not usurious or illegal in that State for natural persons to acquire business paper, that is, paper valid in…
2Cases cited6 opinions
- Fleckner v. President of the Bank of the United StatesSupreme Court of the United States · 1823
- Tiffany v. National Bank of Mo.Supreme Court of the United States · 1874
- Atlantic State Bank of Brooklyn v. SaveryNew York Court of Appeals · 1880
- Darling v. PeckOhio Supreme Court · 1846
- Talmage v. . PellNew York Court of Appeals · 1852
1 more not listed; retrieve them via the Exa API.
3Cited by59 opinions
- Robert L. Roper v. Consurve, Inc., D/B/A Bankamericard Center, and Deposit Guaranty National Bank, Jackson, MississippiCourt of Appeals for the Fifth Circuit · 1978
- Evans v. National Bank of SavannahSupreme Court of the United States · 1919
- Utica City National Bank v. GunnNew York Court of Appeals · 1918
- James W. Partain v. The First National Bank of MontgomeryCourt of Appeals for the First Circuit · 1972
- Black v. Bank of WestminsterCourt of Appeals of Maryland · 1903
54 more not listed; retrieve them via the Exa API.