Stockham v. Munson
Illinois Supreme Court
This was an action of assumpsit, by Munson against the Stockhams. The declaration contains one count on a promissory note, dated October 13, 1856, payable “ on or before one year from the date thereof, with interest at the rate of thirty-six per cent, per annum.” Defendants pleaded, 1st, non-assumpsit; 2nd, usury, as a full defense. September 26, 1859, plaintiff joined issue on the first plea; and at February term, 1860, a demurrer to the second plea was sustained.
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This was an action of assumpsit, by Munson against the Stockhams. The declaration contains one count on a promissory note, dated October 13, 1856, payable “ on or before one year from the date thereof, with interest at the rate of thirty-six per cent, per annum.” Defendants pleaded, 1st, non-assumpsit; 2nd, usury, as a full defense. September 26, 1859, plaintiff joined issue on the first plea; and at February term, 1860, a demurrer to the second plea was sustained. Thereupon defendants asked leave to amend their second plea, which was denied, and defendants excepted. The general issue was…
1Opinion of the CourtWalkeb, J.
The instrument declared upon, reserved thirty-six per cent, interest per annum, on its face, and was so described in the plaintiff’s declaration. The trial was had on the general issue, and the defendant sought to avoid the payment of interest, upon the grounds of usury. This presents the question, whether the defendant must rely upon the statute, by a plea, to be allowed-the benefit of the defense. The third section of the act of January, 1857, (Scates’ Comp. 600), provides, that “if any.person or corporation in this State, shall contract to receive a greater rate of interest than ten per…
2Cases cited1 opinion
- Levy v. GadsbySupreme Court of the United States · 1805
3Cited by8 opinions
- Parmelee v. LawrenceIllinois Supreme Court · 1868
- Harris v. BresslerIllinois Supreme Court · 1887
- Davis v. TandyMissouri Court of Appeals · 1904
- Richards v. BippusCourt of Appeals for the D.C. Circuit · 1901
- Bressler v. HarrisAppellate Court of Illinois · 1886
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