Whitworth v. Davey
Supreme Court of Missouri
Appeal from Jasper Circuit Court. — Hon. Joseph D. Perkins, Judge. (1) Under tlie contract made on March 14, 1.910, the amount due the defendant on April 1,1911, would he the amount of the two first coupons, $724.76. But the plaintiffs were required to pay $739.90, or $15.14 usury. This $15.14 was the interest at eight per cent for six months on coupon one, and was compounding the interest oftener than once a year at the contract rate named in the note.
Read the full summary
Appeal from Jasper Circuit Court. — Hon. Joseph D. Perkins, Judge. (1) Under tlie contract made on March 14, 1.910, the amount due the defendant on April 1,1911, would he the amount of the two first coupons, $724.76. But the plaintiffs were required to pay $739.90, or $15.14 usury. This $15.14 was the interest at eight per cent for six months on coupon one, and was compounding the interest oftener than once a year at the contract rate named in the note. Under the law the court should have allowed the defendant only six per cent per annum, instead, of the eight per cent provided for in the…
1Opinion of the CourtBlair, P. J.
This cause was heard in the Springfield Court of Appeals (185 S. W.-241), and was certified here because one of the judges deemed the opinion to be in conflict with decisions of this court.
On March 14, 1910, appellants executed a note for $8650, payable April 1, 1913, to L. N. Manley, with interest “from date at the rate of eight per cent per annum payable semi-annually according to the tenor and effect of the interest coupons hereto attached and bearing even date herewith.” Six coupons notes were executed. The first was for $378.76 and represented the interest on the principal note from…
2Cases cited4 opinions
- Rosenstein v. . FoxNew York Court of Appeals · 1896
- Kreibohm v. YanceySupreme Court of Missouri · 1900
- Palm v. FancherMississippi Supreme Court · 1908
- Foster v. StateCourt of Criminal Appeals of Texas · 1916
3Cited by6 opinions
- Nika Corp. v. City of Kansas City, Mo.District Court, W.D. Missouri · 1984
- State Ex Rel. Northwestern Mutual Life Insurance v. BlandSupreme Court of Missouri · 1945
- Mississippi Valley Trust Co. v. Oklahoma Ry. Co.Court of Appeals for the Tenth Circuit · 1946
- Sweeney v. Citicorp Person-To-Person Financial Center, Inc.Appellate Court of Illinois · 1987
- Rukavina v. Accounts Supervision Corp.Missouri Court of Appeals · 1951
1 more not listed; retrieve them via the Exa API.