State v. Guenther
Wisconsin Supreme Court
APPEAL from the Circuit Court for Dane County.. The action is against Bichard Guenther^ a former state treasurer, and the sureties upon his official bond, to-recover moneys which he had, received, and had not paid over to his successor in office, as interest on state funds loaned by him to various banks.
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APPEAL from the Circuit Court for Dane County.. The action is against Bichard Guenther^ a former state treasurer, and the sureties upon his official bond, to-recover moneys which he had, received, and had not paid over to his successor in office, as interest on state funds loaned by him to various banks. The judgment is against the defendants for the sum of the interest so received by the treasurer, with interest thereon from the first Monday of January, 1878, when his term of office expired, to the 1st day of April, 1803, at the rate of seven per cent, per annum, and from the 1st day of…
1Opinion of the CourtNewman, J.
On a contract which stipulates for interest, interest at the agreed rate, or, in the absence of an agreed rate, at the rate prescribed by the law at the date of the contract, will be the rate recoverable until the repayment of the principal sum. Spencer v. Maxfield, 16 Wis. 178. A change of the legal rate would not affect the rate of interest recoverable upon such a contract.
But where the contract is silent upon the subject of interest, and in many cases of torts, a different rule obtains. There damages, rather than interest, are to be admeasured. In awarding damages the law aims at…
2Cases cited5 opinions
- O'Brien v. . YoungNew York Court of Appeals · 1884
- White v. LyonsCalifornia Supreme Court · 1871
- Spencer v. MaxfieldWisconsin Supreme Court · 1862
- Stark v. OlneyMultnomah County Circuit Court, Oregon · 1869
- Reese v. . RutherfurdNew York Court of Appeals · 1882
3Cited by5 opinions
- Laycock v. ParkerWisconsin Supreme Court · 1899
- Seton v. HoytOregon Supreme Court · 1899
- Gregory v. StateCalifornia Supreme Court · 1948
- Wyoming National Bank v. BrownWyoming Supreme Court · 1898
- Indian Refining Co. v. TaylorIndiana Supreme Court · 1924