Kock v. Block
Ohio Supreme Court
Motion for leave to file a petition in error to reverse the judgment of the District Court of Cuyahoga county. S. II. Block and E. Block sued Simon Eock, in the Court of Common Pleas of Cuyahoga county, to recover back usurious interest which they had been compelled to pay to Henry Wick & Co., indorsees of a promissory note given to Kock. The note was given by one S. Block, who was the principal, and by S- H. Block and E. Block, who wore his sureties.
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Motion for leave to file a petition in error to reverse the judgment of the District Court of Cuyahoga county. S. II. Block and E. Block sued Simon Eock, in the Court of Common Pleas of Cuyahoga county, to recover back usurious interest which they had been compelled to pay to Henry Wick & Co., indorsees of a promissory note given to Kock. The note was given by one S. Block, who was the principal, and by S- H. Block and E. Block, who wore his sureties. Kock indorsed the note before maturity, to bona fide indorsees, for value. The principal, S. Block, having become bankrupt, S. H. Block and E.…
1Opinion of the Court
By the Court.
"We think the district court were right in-reversing the judgment of the court of common pleas.
The recovery is resisted on the grounds that the usurious interest was voluntarily paid-as such interest by the principal debtor. Independent of the act of February 18,1848 (1 S. & C. 744), this would constitute a defense to the action. But under that act all payments of interest in excess of the rate allowed by law at the time of making the contract, are to be deemed payments on account of the principal; and as between the original parties, no more could be recovered than the balance…
2Cited by6 opinions
- State Ex Rel. Masters v. BeamerOhio Supreme Court · 1923
- Liebelt v. CarneyCalifornia Supreme Court · 1931
- Pearson v. PearsonOhio Court of Appeals · 1938
- Luebke v. MoserOhio Court of Appeals · 1991
- State ex rel. Hunt v. S. M. FronizerSandusky County Court of Common Pleas · 1905
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