Shannon v. Georgia State Building & Loan Ass'n
Mississippi Supreme Court
From the circuit court of Jones county. Hon. John R. Enochs, Judge. This was an action by the appellant, Charles R. Shannon, for the recovery of usurious interest paid to the appellee, the Georgia State Building & Loan Association, and was begun by attachment against the defendant as a nonresident.
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From the circuit court of Jones county. Hon. John R. Enochs, Judge. This was an action by the appellant, Charles R. Shannon, for the recovery of usurious interest paid to the appellee, the Georgia State Building & Loan Association, and was begun by attachment against the defendant as a nonresident. On September 30, 1895, appellant’s mother, Mrs. Nancy L. Shannon,' contracted with the appellee, a Georgia corporation, through its local agency at EUisville'in this state, for a loan of $1,000, and, to secure payment of the same, executed a deed of trust on her real estate in Jones county, in this…
1Opinion of the CourtWhitfield, C. J.
It is thoroughly settled in this state, under facts like those in this record, that the appellant can recover the whole of the interest. McAllister v. Jerman, 32 Miss., 142; Chaffe v. Wilson, 59 Miss., 42. The appellant stood as a substituted debtor and had all the rights the original debtor had. The premium in this case was fixed, and the contract was, therefore, usurious. See the cases of Sokoloski and Crofton, 77 Miss., 155-166.
The chief point of contention is whether this is a Georgia or a Mississippi contract.. It is true the notes were payable in Georgia, but the mortgage was on land in…
2Cases cited25 opinions
- Bank of Augusta v. EarleSupreme Court of the United States · 1839
- Andrews v. PondSupreme Court of the United States · 1839
- Pratt v. AdamsNew York Court of Chancery · 1839
- Dyke v. Erie Railway Co.New York Court of Appeals · 1871
- Miller v. TiffanySupreme Court of the United States · 1864
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3Cited by6 opinions
- Castleman v. Canal Bank & Trust Co.Mississippi Supreme Court · 1934
- Tower Underwriters, Inc. v. LottMississippi Supreme Court · 1951
- National Mutual Building & Loan Ass'n v. BrahanMississippi Supreme Court · 1902
- Johnson v. KnightDistrict Court, N.D. Mississippi · 1978
- National Mutual Building & Loan Ass'n of New York v. PinkstonMississippi Supreme Court · 1901
1 more not listed; retrieve them via the Exa API.