Scott v. Kennedy
Supreme Court of Pennsylvania
Appeal, No. 189, Jan. T., 1900, by plaintiff, from order of C. P. No. 1, Phila. Co., Dec. T., 1899, No. 282, making absolute a rule to open judgment in case of John H. Scott v. John D. Kennedy, Charles D. Kennedy and Kennedy & Brother. Rule to open judgment and case stated.
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Appeal, No. 189, Jan. T., 1900, by plaintiff, from order of C. P. No. 1, Phila. Co., Dec. T., 1899, No. 282, making absolute a rule to open judgment in case of John H. Scott v. John D. Kennedy, Charles D. Kennedy and Kennedy & Brother. Rule to open judgment and case stated. The case stated was as follows: 1. On May 21, 1888, plaintiff and defendants entered into the following agreement: “ This agreement, Made the Twenty-first day of May, A. D. 1888, between John D. Kennedy and Charles D. Kennedy trading as Kennedy & Bro. of the one part and John H. Scott of the other part. “ Witnesseth that…
1Opinion of the Court
Opinion by
Mb. Justice Fell,
The question presented by this appeal is whether, under the facts agreed upon and embodied in a ease stated, a contract to loan money to a partnership and take a share of the profits in lieu of interest is usurious. In 1888, Scott, the appellant, sold to Kennedy & Bro., the appellees, his interest in certain goods for $18,000, and agreed in writing to accept in payment a judgment note payable one day after date, which, however, was not to be entered of record nor collected for five years, except in case of default in the payment monthly of a share of the profits of…
2Cases cited2 opinions
- G. Wessels & Co. v. E. Weiss & Co.Supreme Court of Pennsylvania · 1895
- Poundstone v. HamburgerSupreme Court of Pennsylvania · 1891
3Cited by1 opinion
- Duffy v. GilmoreSupreme Court of Pennsylvania · 1902