Hanlin v. Parsons
Supreme Court of Iowa
Appeal from Cedar District Court. Injunction to restrain the foreclosure of a chattel mortgage by notice and sale, on the grounds of usury, and that the saíne had been fully paid off. On a hearing before the court, of defendant’s motion to dissolve, the injunction was modified; and except as modified the motion was overruled, and usury being found, a judgment was rendered against the plaintiff in favor of the school fund. Defendant appeals.
1Opinion of the CourtMiller, J.
The evidence shows that on the 11th day of April, 1870, Hanlin, the appellee, contracted with the appellant, Parsons, through his agent, J. G. Parsons, for a loan of $1,000 at the tate of fifteen per centum interest, and on the 13th of the same month plaintiff made his promissory note with sureties to the defendant for the said sum of $1,000, payable on or before the 20th day of April, 1871, with ten per cent interest from date, and also executed to defendant a chattel mortgage as further security for the payment of the note; that the defendant, through said agent, thereupon loaned and paid…
2Cases cited1 opinion
- Machinists' Bank v. KrumSupreme Court of Iowa · 1863
3Cited by4 opinions
- Sweet, Dempster & Co. v. OliverSupreme Court of Iowa · 1881
- State ex rel. Southern Alaska Canning Co. v. Superior CourtWashington Supreme Court · 1924
- Clark v. KraftWashington Supreme Court · 1932
- McDonald v. JohnstonSupreme Court of Iowa · 1934