Legal Opinion
Knox v. Bank of United States
Mississippi Supreme Court
Decided April 15, 1854PublishedCited by 4 opinions
The opinion of the court contains all the material facts of the case upon which the decision was made.
1Opinion of the CourtJustice Handy
1. The contract in this case is not usurious. The prohibition in the charter of the bank against interest exceeding the rate of six per cent., is confined to the State of Pennsylvania. The bank had power to make contracts in other States. Bank of Augusta v. Earle, 13 Peters, 588. And she had general power, by her charter, to make loans. She is only restricted as to Pennsylvania ; and if she makes contracts in other States not forbidden by their laws, they are valid. 14 Peters, 129; 4 Rob. La. R. 517.
2. No notice to the defendant was necessary in taking the account of the mortgage debt. It was…
2Cases cited2 opinions
- Runyan v. Lessee of CosterSupreme Court of the United States · 1840
- Dean v. De LezardiCourt of Appeals of Mississippi · 1852
3Cited by4 opinions
- Southern Illinois & Missouri Bridge Co. v. StoneSupreme Court of Missouri · 1903
- President of the Bank of Louisville v. YoungSupreme Court of Missouri · 1866
- Taylor v. WrightMississippi Supreme Court · 1877
- Chapman v. EvansMississippi Supreme Court · 1870