Chapman v. State of Oregon
Oregon Supreme Court
Appeal from Multnomah County. On the 12th of March, 1875, one Henry Watkins executed his promissory note to one Shuker, for three hundred and fifty dollars, coin, payable in sixty days, secured by a chattel mortgage of the same date upon certain personal property. The note covered several loans, upon which usurious interest had been taken, and it also included fifty dollars given as a bonus for tbe loans. Usurious interest was also paid upon tbe note.
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Appeal from Multnomah County. On the 12th of March, 1875, one Henry Watkins executed his promissory note to one Shuker, for three hundred and fifty dollars, coin, payable in sixty days, secured by a chattel mortgage of the same date upon certain personal property. The note covered several loans, upon which usurious interest had been taken, and it also included fifty dollars given as a bonus for tbe loans. Usurious interest was also paid upon tbe note. In May, 1875, before maturity, Shuker assigned the note and mortgage to the appellant Chapman. On March 31, 1875, Watkins executed his…
1Opinion of the Court
By the Court,
Burnett, J.:
This appeal presented two questions: first, as to the validity of the usury law of 1862; and second, as to its construction.
It is contended by counsel for Chapman that the law is unconstitutional, because it is penal in its nature, and in effect punishes one man for another’s crime; that is to say, in this case, Shuker is the usurer, and Chapman is the innocent holder of the note in question, Chapman, in this case, is in just the same condition of any man who buys a note or contract, made in violation of an express provision of the statute. He has nothing to forfeit;…
2Cases cited1 opinion
- President of the Bank of the United States v. OwensSupreme Court of the United States · 1829
3Cited by12 opinions
- Ayre v. HixsonOregon Supreme Court · 1908
- Mayes v. StephensOregon Supreme Court · 1901
- J. I. Case Threshing Machine Co. v. CampbellOregon Supreme Court · 1887
- State v. GriffithSupreme Court of Connecticut · 1910
- Marquam v. SengfelderOregon Supreme Court · 1893
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