First National Bank v. Childs
Massachusetts Supreme Judicial Court
Contract on a promissory note for $600. The case was submitted to the Superior Court, and, after judgment for the plaintiff for the full amount of the note and interest, to this court, on appeal, on the following agreed facts: The plaintiff is a corporation, duly and legally established under the laws of the United States relating to national banks, and is located in the State of New Hampshire. The defendants made and executed the note declared on in that State.
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Contract on a promissory note for $600. The case was submitted to the Superior Court, and, after judgment for the plaintiff for the full amount of the note and interest, to this court, on appeal, on the following agreed facts: The plaintiff is a corporation, duly and legally established under the laws of the United States relating to national banks, and is located in the State of New Hampshire. The defendants made and executed the note declared on in that State. The note is a renewal of former notes that have been renewed from time to time, for one and the same original loan. ■ The defendants…
1Opinion of the CourtSoule, J.
The plaintiff corporation is a creature of the statutes of the United States, and its powers, rights and liabilities are governed by those statutes. Among the provisions therein contained are the following:
“Any association may take, receive, reserve and charge on any loan or discount made, or upon any note, bill of exchange 'or other evidences of debt, interest at the rate allowed by the laws of the State, Territory or District where the bank is located, and no more.” U. S. Rev. Sts. § 5197.
*521“ The taking, receiving, reserving or charging a rate of interest greater than is allowed by the…
2Cases cited5 opinions
- Farmers' & Mechanics' National Bank v. DearingSupreme Court of the United States · 1875
- Barnet v. National BankSupreme Court of the United States · 1879
- Davis v. RandallMassachusetts Supreme Judicial Court · 1874
- Akers v. DemondMassachusetts Supreme Judicial Court · 1869
- Central National Bank v. PrattMassachusetts Supreme Judicial Court · 1874
3Cited by7 opinions
- Ritter v. CouchWest Virginia Supreme Court · 1912
- Bowden v. GabelMontana Supreme Court · 1937
- First National Bank v. ChildsMassachusetts Supreme Judicial Court · 1882
- McCarthy v. First National Bank of Rapid CitySouth Dakota Supreme Court · 1909
- National Bank v. CarpenterSupreme Court of New Jersey · 1889
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