Chicago Lumber Co. v. Bancroft

The proposition that the giving of the renewal note, by which it was agreed to pay an illegal rate of interest upon the loan, operated to make the original note and mortgage usurious, seems to me unsound. In Burnhisel v. Firman, 22 Wall. [U. S.], 170, 22 Law. Ed., 766, it is said: “If a security founded upon a prior one be fatally tainted with that vice [usury] and the prior one were free from it but given up and canceled, and the latter one thereafter be adjudged void, the prior one will be revived, and may be enforced as if the latter one had not been given.” In Rountree v. Brinson, 3 S. E.…