Calhoun v. Marshall
Supreme Court of Georgia
Contracts. Interest and usury Before Judge MoCutohen. Bartow Superior Court. January Term, 1878. Marshall, trustee, (the assignee of the original payee) proceeded to foreclose a mortgage made to secure three notes all of the following form, and differing only in amounts and dates: “$9,000.00. We, or either of us, promise to pay J. W. W. Marshall, or order, the sum of nine thousand dollars ($9,000.00) for value received, in three equal annual installments ; the first payment…
Read the full summary
Contracts. Interest and usury Before Judge MoCutohen. Bartow Superior Court. January Term, 1878. Marshall, trustee, (the assignee of the original payee) proceeded to foreclose a mortgage made to secure three notes all of the following form, and differing only in amounts and dates: “$9,000.00. We, or either of us, promise to pay J. W. W. Marshall, or order, the sum of nine thousand dollars ($9,000.00) for value received, in three equal annual installments ; the first payment of three thousand dollars ($3,000.00) to be due on or before the 15th day of May, 1870 ; the second payment of three…
1Opinion of the Court
Jackson, Justice.
The sole question made by this record is whether notes, the interest on which was made due and payable annually at a certain date each year, bore interest upon the annual interest so due, as well as upon the original principal on the final calculation of balance due on said notes.
Our Code, §2056, provides that “all liquidated demands, where, by agreement or otherwise, the sum to be paid is fixed or certain, bear interest from the time the party is liable and bound to pay them.” These annual sums for interest are fixed and certain, and the party was bound to pay them on the…
2Cases cited1 opinion
- Scott v. SaffoldSupreme Court of Georgia · 1867
3Cited by14 opinions
- Union Savings Bank & Trust Co. v. DottenheimSupreme Court of Georgia · 1899
- Hooper v. HooperCourt of Appeals of Maryland · 1895
- Baird v. MeyerNorth Dakota Supreme Court · 1927
- Hadden v. LarnedSupreme Court of Georgia · 1891
- Ray v. PeaseSupreme Court of Georgia · 1895
9 more not listed; retrieve them via the Exa API.