Metcalf v. Watkins
Supreme Court of Alabama
Error from t!is Crunty Court of Mxiison County. This was an action on a bill of exchange, instituted by Watldns the holder, against Metcalf the drawer. In the action below, the defendant Metcalf plead, First — That the bill was drawn by him'for the accommodation ef one Roberts, without any consideration on his part, but to enable the said Roberts to procure its discount at a rate beyond the legal interest.
Read the full summary
Error from t!is Crunty Court of Mxiison County. This was an action on a bill of exchange, instituted by Watldns the holder, against Metcalf the drawer. In the action below, the defendant Metcalf plead, First — That the bill was drawn by him'for the accommodation ef one Roberts, without any consideration on his part, but to enable the said Roberts to procure its discount at a rate beyond the legal interest. That it was so discounted by Watkins for thirteen per cent, and alleging scienter. Second — The same facts without scienter. On these pleas, there was replication, rejoinder, sur-re»…
1Opinion of the CourtChief Justice Lipscomb
delivered the opinion, of the Court. .
In this case, suit was instituted in the County Court of Madison county, by Watkins, as holder of a bill of* exchange drawn by Metcalf on Beal, of New-Orleans, in favor of Smith, and indorsed by Smith to Ice, and by Ice to Watkins. The *86defendant below, pleaded two pleas setting up the defence of usury. The first, alleging-, that the bill was drawn and indorsed without any consideration, but solely for the accommodation- of one Roberts, to. enable him to procure an advance on it at the rate of thirteen per cent-, discount — and that Roberts sold it to…
2Cases cited3 opinions
- Munn v. President & Directors of Commission Co.New York Supreme Court · 1818
- Tillotson v. CheethamNew York Supreme Court · 1808
- Faris v. KingSupreme Court of Alabama · 1827
3Cited by3 opinions
- German Bank v. DeShonSupreme Court of Arkansas · 1883
- Saltmarsh v. P. & M. BankSupreme Court of Alabama · 1848
- Manning v. MannningSupreme Court of Alabama · 1845