McNeely v. Ford
Supreme Court of Iowa
Appeal from Marshall District Court. — Hon. S. M. Weaver, Judge. Action to recover judgment for the full amount of a promissory note executed by defendant to plaintiff for seven hundred and seventy dollars, with eight per cent, interest, dated March 28,1898, and due March 28,1891; also, for a decree foreclosing a mortgage on real estate given to secure said note.
Read the full summary
Appeal from Marshall District Court. — Hon. S. M. Weaver, Judge. Action to recover judgment for the full amount of a promissory note executed by defendant to plaintiff for seven hundred and seventy dollars, with eight per cent, interest, dated March 28,1898, and due March 28,1891; also, for a decree foreclosing a mortgage on real estate given to secure said note. Defendant answered, admitting the execution of said note and mortgage, and alleging as defense that said note is usurious, which allegation the plaintiff denies in his reply. Judgment was rendered in favor of the plaintiff for a part…
1Opinion of the CourtGiven, J.
I. We first inquire whether the promissory note sued upon is usurious. The facts out of which, its execution grew are these: Plaintiff is the wife of G. W. McNeely, who has been engaged in the loan business. At the time of their marriage, in 1885, the plaintiff had three or four hundred dollars, which had been given to her by her father, and which she placed in the hands of her husband to be loaned. Mr. McNeely placed in her name a sufficient amount of notes owned by him to increase the amount in his hands for her to one thousand dollars. This money was left in his hands to be invested for…
2Cases cited2 opinions
- Greenfield v. MonaghanSupreme Court of Iowa · 1892
- Richards v. PurdySupreme Court of Iowa · 1894
3Cited by2 opinions
- France v. MunroSupreme Court of Iowa · 1908
- Griswold v. DuganeSupreme Court of Iowa · 1910