Vaughan v. Kennan
Supreme Court of Arkansas
APPEAL from Madison Circuit Court. Hon. J. H. Berry, Circuit Judge. 1. From the first of September, 1874, the note only bore six per cent., and the judgment should only have borne that rate.
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APPEAL from Madison Circuit Court. Hon. J. H. Berry, Circuit Judge. 1. From the first of September, 1874, the note only bore six per cent., and the judgment should only have borne that rate. Newton v. Kennerly, 31 Ark., 626; Pettigrew v. Summers, 32 lb., 571; Ragan v. Bell, —Ark., MSS. 2. A note payable at a future day, with interest greater or less than six per cent, in which nothing is said about the rate after the maturity, draws the stipulated rate only till maturity, and afterwards six per cent. Baton v. Boisissault, 5 Maine Rep., 270; Ludwick v. Huntsinger, 5 Watts & Sug., 37 ; Brewster…
1Opinion of the CourtEakin, J.
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Kennan recovered judgment by default, in the Circuit Court, on the first day of April, 1881, against the appellants, on a joint promissory note for $875, dated February 5th, 1873, and payable on the first day of September, 1874, “with interest from date at the rate of ten per cent, per annum,” in which it was stipulated that “if interest be not paid annually, to become principal and bear the same rate of interest.” There were credits upon the note as follows:
November 22, 1875............................$242.50
October 14, 1879.............................. 500.00
October 7,…
2Cases cited1 opinion
- Bledsoe v. . Nixon .Supreme Court of North Carolina · 1873
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