Macomber v. Dunham
New York Supreme Court
This was an action of debt on bond, tried at the New-York circuit in December, 1829, before the Hon. Ogden Edwards, one of the circuit judges. The suit was on a joint and several bond executed by the defendant, by David B. Dunham and two others, bearing date 12th May, 1826, conditioned for the payment of $6,700, with lawful interest, on the 13th October ensuing the date of the bond.
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This was an action of debt on bond, tried at the New-York circuit in December, 1829, before the Hon. Ogden Edwards, one of the circuit judges. The suit was on a joint and several bond executed by the defendant, by David B. Dunham and two others, bearing date 12th May, 1826, conditioned for the payment of $6,700, with lawful interest, on the 13th October ensuing the date of the bond. The execution of the bond was duly proved, and that it was taken for the benefit of the Mount Hope Loan Company. The plaintiff rested. On the part of the defendant it was shewn, that on the 3d December, 1825,…
1Opinion of the Court
By the Court, Nelson, J.
The Mount Hope Loan Company was chartered the 18th April, 1825. Laws of 1825, p. 296. The sixth section of the act of incorporation prescribes the rates of interest the company are authorized to receive up*552on pledges of goods and chattels to be deposited with them as security for loans made, to wit: On all sums under one dollar, loaned to the poor, no interest; on all sums under $50, 12 per cent.; above $50, and under $100, 10 per cent.; above $100, and under $200,9 per ct.; above $200, and under $500,8 per cent.; above $500, 7 per cent.; “ and that in all cases where…
2Cited by24 opinions
- O'Brien v. . YoungNew York Court of Appeals · 1884
- Brewster v. WakefieldSupreme Court of the United States · 1860
- Union Institution for Savings v. City of BostonMassachusetts Supreme Judicial Court · 1880
- Brown v. HardcastleCourt of Appeals of Maryland · 1885
- Borders v. BarberSupreme Court of Missouri · 1884
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