Heffner v. Brownell
Supreme Court of Iowa
Appeal from Buchanan District Qdurt. — Hon. C. F. Couch, Judge. Action upon a promissory note, to which was set up the defense of usury. • There was a verdict and judgment for the defendant on the issue of usury, and judgment for the school fund of the county against the defendant for the statutory penalty. Both parties appeal.
1Opinion of the CourtGranger, J.
I. The note in suit is for two hundred dollars, dated July 10, 1884, and signed: “ Independence -l usrenewal note. ury- Manufacturing Company. B. S. Brownell, President; D. B. Sanford, Secretary.” The note originated about as follows: Prior to 1874, one Guernsey made to the plaintiff a note for three hundred dollars, secured by mortgage on certain *105property in Buchanan county; The Independence Manufacturing Company became the owner of the mortgaged property, and through negotiations gave therefor a note dated November 9, 1874, for three hundred dollars, signed as above, besides a certain cash…
2Cases cited1 opinion
- Sexton v. MurdockSupreme Court of Iowa · 1873