Bignall v. Gould
Supreme Court of the United States
ERROR TO THE CIECUIT COtJET . OE THE -UNITED STATES EOE THE EASTERN DISTRICT OF MISSOURI. .This was an action brought in September, 1881, by a citizen of Missouri against a citizen of New York upon the following’ bond, signed and sealed by the defendant: ■ “ Know all men that I, James H. Gould, of Seneca Falls, New York, am held and firmly bound to Moses C. Bignall in the penal sum of ten thousand dollars lawful money, liquidated damages, to the payment of which I bind…
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ERROR TO THE CIECUIT COtJET . OE THE -UNITED STATES EOE THE EASTERN DISTRICT OF MISSOURI. .This was an action brought in September, 1881, by a citizen of Missouri against a citizen of New York upon the following’ bond, signed and sealed by the defendant: ■ “ Know all men that I, James H. Gould, of Seneca Falls, New York, am held and firmly bound to Moses C. Bignall in the penal sum of ten thousand dollars lawful money, liquidated damages, to the payment of which I bind myself, my heirs, executors, administrators and assigns, firmly by these presents. “ Sealed ivith my seal at the city of St.…
1Opinion of the Court
Mu. Justice '©bay,
after stating tbe case as above reported, delivered the opinion of the court.
By the rules now established, at law as well as in equity, -the sum of $10,000, named in this bond, is a penalty only, and not liquidated damages. As observed by Lord Tenterden in a similar case, “whoever framed this agreement does not appear to have had any very clear idea of the distinction between a penalty and liquidated damages; for the sum ” in question “ is described in the same sentence as a penal sum and as liquidated damages.” Davies v. Penton, 6 B. & C. 216, 222 ; S. C. 9 D. & R. 369,…
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