Angier v. Smith
Supreme Court of Georgia
Complaint, on note. Before Judge Berry. City court of Atlanta. January term, 1897. Smith sued Angier as maker, and Brownlee as indorser; upon a promissory note for $125 principal, besides interest and attorney’s fees, dated'March 1, 1895, and due at ninety days. It was indorsed by Brownlee to Smith, who alleged that he became .the. owner of the note as so indorsed, before its maturity, and that he had presented it for payment, which was refused.
Read the full summary
Complaint, on note. Before Judge Berry. City court of Atlanta. January term, 1897. Smith sued Angier as maker, and Brownlee as indorser; upon a promissory note for $125 principal, besides interest and attorney’s fees, dated'March 1, 1895, and due at ninety days. It was indorsed by Brownlee to Smith, who alleged that he became .the. owner of the note as so indorsed, before its maturity, and that he had presented it for payment, which was refused. The defendants each filed pleas which were stricken for insufficiency. The substantial defense made was usury, it being alleged that the note was…
1Opinion of the CourtCobb, J.
Is the plea of usury a good defense to a negotiable promissory note when it is sought to be enforced by one who is a bona fide holder for value and who acquired title before maturity? That such a note would be void in the hands of an innocent purchaser as to the usury, and such part of the debt as is declared by law to be forfeited on account of the usury, is a principle well settled in this State. This doctrine was first announced in the case of Bailey v. Lumpkin, 1 Kelly, 392, and was adhered to in the case of Laramore v. Bank of Americus, 69 Ga. 722. There are no decisions of this court…
2Cases cited1 opinion
- Laramore v. Bank of AmericusSupreme Court of Georgia · 1882
3Cited by10 opinions
- Lankford v. HoltonSupreme Court of Georgia · 1938
- Clarke v. HavardSupreme Court of Georgia · 1900
- Atlanta Savings Bank v. SpencerSupreme Court of Georgia · 1899
- Newcomb v. Niskey's Lake Inc.Supreme Court of Georgia · 1940
- Campbell v. MorganSupreme Court of Georgia · 1900
5 more not listed; retrieve them via the Exa API.