Draper v. Trescott
New York Supreme Court
THIS action was commenced before a justice of the peace of the county of Livingston. The plaintiff complained in writing on a promissory note, made by the defendant Trescott and one Erastus Wilkinson, dated August 19th, 1850, whereby they promised to pay G. F. Pratt or hearer, six months from - that date, fifty dollars with interest. The defendant answered 1st. General denial; 2d. Payment; 3d. Discharge of Trescott as surety; 4th. Usury; 5 th. Statute of limitations.
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THIS action was commenced before a justice of the peace of the county of Livingston. The plaintiff complained in writing on a promissory note, made by the defendant Trescott and one Erastus Wilkinson, dated August 19th, 1850, whereby they promised to pay G. F. Pratt or hearer, six months from - that date, fifty dollars with interest. The defendant answered 1st. General denial; 2d. Payment; 3d. Discharge of Trescott as surety; 4th. Usury; 5 th. Statute of limitations. The testimony on the trial disclosed the following facts: That the defendant Treseott, and Wilkinson, made said note; Treseott…
1Opinion of the CourtT. R. Strong, P. J.
The question in this case is, whether a creditor who has agreed with a principal debtor, without the consent of a surety, to extend the time of payment of the debt, for a usurious consideration paid at the time, may avail himself of the usury, as rendering the agreement invalid, when the agreement and the usurious consideration are proved by the surety, for the purpose of establishing a defense that he is discharged from his liability.
It is declared by statute that all usurious contracts “shall be voidand there is nothing in the language of the statute expressly qualifying those words;…
2Cases cited4 opinions
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- Bissell v. New York Central RailroadNew York Supreme Court · 1858
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3Cited by11 opinions
- Ford v. HancockSupreme Court of Arkansas · 1880
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- Carter v. . DuncanSupreme Court of North Carolina · 1881
- Fernan v. DoubledayNew York Supreme Court · 1870
- Froude v. BishopAppellate Division of the Supreme Court of the State of New York · 1898
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