Neal v. Rouse
Court of Appeals of Kentucky
Case 26 — PETITION EQUITY APPEALS EROM SPENCER CIRCUIT COURT. 1. The renewal of a note to the same payee, without any new consideration, although with different sureties, is not a payment of the usury. (Fitzpatrick v. Apperson’s Ex’or, 79 Ky., 272; Wood v. Gray’s Ex’or, 5 B. M., 93; Booker v. Gregory, 7 B. M., 440; Ellis v. Brannin’s Ex’or, I Duv., 49; Devon v. Naunhoim’s Adms’r, 7 Ky.
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Case 26 — PETITION EQUITY APPEALS EROM SPENCER CIRCUIT COURT. 1. The renewal of a note to the same payee, without any new consideration, although with different sureties, is not a payment of the usury. (Fitzpatrick v. Apperson’s Ex’or, 79 Ky., 272; Wood v. Gray’s Ex’or, 5 B. M., 93; Booker v. Gregory, 7 B. M., 440; Ellis v. Brannin’s Ex’or, I Duv., 49; Devon v. Naunhoim’s Adms’r, 7 Ky. Law Bep., 222. Gruelle v. Garrard, Idem, 698; Onan v. Onan, Idem, 833; Budd v. Planter’s Bank, 78 Ky., 513.) Smith v. Young, 11 Bush, 94, examined and criticised. 2. The chancellor will always purge a claim of…
1Opinion of the CourtChief Justice Holt
These cases involve tbe same question, and are, therefore, heard together. The defense is, that the original loans, with legal interest, have been over-paid, and that-*153the notes sued upon are altogether for usury. Each of the debts was renewed several times, but the payee and the principal were the same in all of the notes. The sureties were changed however.
It is claimed that this was a novation, equivalent to-payment, and defeats the plea of usury, as our statute bars its recovery after the lapse of a year from its payment.
Indeed, more than this is claimed. It is insisted first, that no usury…
2Cases cited2 opinions
- Kendall v. CrouchCourt of Appeals of Kentucky · 1889
- Fitzpatrick v. Apperson's ex'xCourt of Appeals of Kentucky · 1881
3Cited by7 opinions
- Bowen v. Mount Vernon Sav. BankCourt of Appeals for the D.C. Circuit · 1939
- Taulbee v. HargisCourt of Appeals of Kentucky · 1917
- Hill v. . LindsaySupreme Court of North Carolina · 1936
- Pitt Const. Co. v. City of DaytonCourt of Appeals for the Sixth Circuit · 1916
- Paine v. LevyCourt of Appeals of Kentucky · 1911
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