Matthias v. Cook
Illinois Supreme Court
Whit of Error to the Circuit Court of Marshall county; the Hon. Saaiuel L. EiohhoND, Judge, presiding. This was an action of assumpsit, brought in the Circuit -Court by Cook, the defendant in error, against Matthias, Hatton and Martin, upon a promissory note, for the sum of $300, bearing date on the 25th of November, 1856, and payable one year thereafter.
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Whit of Error to the Circuit Court of Marshall county; the Hon. Saaiuel L. EiohhoND, Judge, presiding. This was an action of assumpsit, brought in the Circuit -Court by Cook, the defendant in error, against Matthias, Hatton and Martin, upon a promissory note, for the sum of $300, bearing date on the 25th of November, 1856, and payable one year thereafter. The defendants below filed two special pleas of usury, neither of the pleas answering, or purporting to answer, the whole declaration. The plaintiff filed his replications to these pleas; issues were formed; and he went to trial without…
1Opinion of the Court
Mr. Justioe Waukee
delivered the opinion of the Court.
When this note was executed, the act of 1849, in relation to interest, was in force. The first section of that act authorized the loan of money, at a rate of interest not exceeding ten per cent, per annum. Sess. Laws, 98. This act repealed so much of the fifty-fourth chapter of the Revised Statutes of 1845, as prohibited the reservation of a higher rate than six per cent, interest on money loaned.
The fourth section of the act of 1845, prohibited the taking of a greater rate of interest than six per cent., and declared a forfeiture of…
2Cited by10 opinions
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- Sartain v. DavisIllinois Supreme Court · 1926
- Alston v. American Mortgage Co.Ohio Supreme Court · 1927
- Bettis v. Tampa Real Estate Exchange & Loan Ass'nSupreme Court of Florida · 1911
- Hartzell v. Cincinnati, Hamilton & Dayton Railway Co.Appellate Court of Illinois · 1920
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