Rundell v. Fulton

Sec 8305, GC, so far as applicable to these cases, reads as follows:

“When money becomes due and payable on any bond, bill, note or other instrument of writing * * * the creditor shall be entitled to interest at the rate of 6% per annum and no more.”

It is insisted that this provision has no application where the assets of the debtor are taken over for liquidation by the Superintendent of Banks. The statute was in force when each draft was issued and payment demanded thereon and it became in effect a part of the contract between the parties. This court is unable to see how the appointment of a…