Alexander v. Troutman
Supreme Court of Georgia
The defendant in error instituted suit in Bibb Superior Court, against the plaintiff in error, upon a note, of which the following is a copy: “ $ 1,800. On the 25th December next, I promise to pay H. B. Troutman, or bearer, eighteen hundred dollars for value received, and if not punctually paid, interest from date, Jan. 10th, 1842, Elam Alexander;” which note was credited with one hundred dollars.
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The defendant in error instituted suit in Bibb Superior Court, against the plaintiff in error, upon a note, of which the following is a copy: “ $ 1,800. On the 25th December next, I promise to pay H. B. Troutman, or bearer, eighteen hundred dollars for value received, and if not punctually paid, interest from date, Jan. 10th, 1842, Elam Alexander;” which note was credited with one hundred dollars. At the trial term, judgment was confessed by counsel for the plaintiff in error for seventeen hundred dollars, with interest and costs of suit; and final judgment was thereupon entered up and signed…
1Opinion of the Court
By the Court
Nisbet, Judge.
The several assignments of error in this cause, resolve themselves into one question, and that is, is the agreement upon the face of this paper to pay interest from date, if the principal sum is not punctually paid at its maturity, in the nature of a penalty? or is it an undertaking to pay the back interest as damages ? The court below decided it to be an undertaking to pay the back interest as damages, for a failure to pay the principal sum at the maturity of the note. Upon this decision, the plaintiff in error brings this cause up. If this back interest is…
2Cases cited4 opinions
- Paysant v. WareSupreme Court of Alabama · 1840
- Perkins v. LymanMassachusetts Supreme Judicial Court · 1814
- White v. DingleyMassachusetts Supreme Judicial Court · 1808
- Riley v. WaughMassachusetts Supreme Judicial Court · 1851
3Cited by5 opinions
- Camilla Cotton Oil Company and George M. Perry, Sr. v. Spencer Kellogg and Sons, Inc.Court of Appeals for the Fifth Circuit · 1958
- Hardy v. G. A. C. Finance Corp.Court of Appeals of Georgia · 1974
- Bank of Tupelo v. CollierSupreme Court of Georgia · 1941
- Scarborough v. Merchants & Farmers BankSupreme Court of Georgia · 1908
- Dennis v. ColleySupreme Court of Georgia · 1900