Parker v. Cousins
Supreme Court of Virginia
This was an action of debt brought in the Circuit Superior Court of Petersburg, by Willis Cousins, against William, P. Wyche, and William Parker, as late merchants and partners, upon the following note: $ 6000. Sixty days after date, we promise to pay to Willis Cousins or order, without offset, negotiable and payable at the office of discount and deposite of the Farmers Bank of Virginia at Petersburg, six thousand dollars, value received. Signed, Wyche if Parker, by Wm.
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This was an action of debt brought in the Circuit Superior Court of Petersburg, by Willis Cousins, against William, P. Wyche, and William Parker, as late merchants and partners, upon the following note: $ 6000. Sixty days after date, we promise to pay to Willis Cousins or order, without offset, negotiable and payable at the office of discount and deposite of the Farmers Bank of Virginia at Petersburg, six thousand dollars, value received. Signed, Wyche if Parker, by Wm. P. Wyche. The declaration contained a special count upon the note, and also the general counts for money lent, had and…
1Opinion of the CourtStanard, J.
The efficacy of the objection to the judgment in this case, on the ground of usury, depends on the result of the enquiry, whether usury can be justly imputed to the original transaction between these parties. For, if the discount of the first note was not usurious, that note constituted a valid debt, which would remain a just and legal demand, though usury could be legally predicable of the notes subsequently discounted, of which this debt founded in part the consideration. Indeed, though there was usury in the discount of the first note, so far as the consideration of that note was a…
2Cases cited1 opinion
- Jackson's heirs v. Jackson's adm'rSupreme Court of Virginia · 1844
3Cited by4 opinions
- James v. Oakland Traction Co.California Court of Appeal · 1909
- Dermott v. CarterSupreme Court of Virginia · 1928
- Hard v. BurtonSupreme Court of Vermont · 1890
- Merchants & Planters' Bank v. SarrattSupreme Court of South Carolina · 1907