Cooper v. United Security Life Insurance & Trust Co.
Court of Appeals for the D.C. Circuit
Hearing on an appeal by the complainant from a decree of the Supreme Court of the District of Columbia, sitting as a court of equity, overruling his exceptions to the auditor’s report and confirming the same, in a suit to require the surrender of a bond for cancelation and the execution of a release of a deed of trust.
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Hearing on an appeal by the complainant from a decree of the Supreme Court of the District of Columbia, sitting as a court of equity, overruling his exceptions to the auditor’s report and confirming the same, in a suit to require the surrender of a bond for cancelation and the execution of a release of a deed of trust. The Court in the opinion stated the facts as follows: On January 6, 1892, the appellant, Anna J. Cooper, complainant below, obtained from the defendant trust company, a loan of $4,600, which was secured by a bond and deed of trust on certain described real estate situated in…
1Opinion of the CourtJustice Van Orsdel
It is contended by counsel for complainant that, inasmuch as no specified rate of interest is named in the bond or deed of trust, complainant only became liable for the legal rate of 6 per cent interest, as allowed by statute. It is insisted, and not gainsaid, that, at 6 per cent, calculated with a deduction of the principal by partial payments, the indebtedness, principal and interest, was entirely liquidated before the expiration of' the twelfth year, and long prior to the date complainant ceased to make payment of the monthly instalments, as called for in the bond. Complainant, therefore,…
2Cases cited1 opinion
- Cameron v. Merchants' & Manufacturers' BankMichigan Supreme Court · 1877
3Cited by1 opinion
- Cohen v. District of Columbia National BankDistrict Court, District of Columbia · 1974