Case Details
- Judge(s)
- Ormond
- Status
- Published
- Procedural Posture
- Error to Circuit Court of Russell; plaintiff excepted to multiple jury charge refusals
Related Laws
No specific laws identified for this ruling.
Outcome
Plaintiff recovered on promissory notes despite defendant's usury defense. Jury awarded nominal damages of one dollar, with judgment rendered in plaintiff's favor.
Excerpt
<p>Error to the Circuit Court of Russell.</p> <p>Assumpsit by the plaintiff, against the defendant in error, on several promissory notes. The defence was, that the notes were usurious.</p> <p>The defendants being examined as witnesses, the plaintiff objected to their proving any thing but the rate of interest, but the Court permitted them to prove the entire consideration, embracing payments made by them, before their notes were given, which were but the renewal of other notes, given for borrowed money, to all which the plaintiff excepted.</p> <p>There being proof conducing to show, that the first note of defendants, bought by plaintiff, was made for the purpose of obtaining a usurious loan, the plaintiff’s counsel moved the Court, to charge, that if this note was purchased by plaintiff, without any knowledge of the purpose for which it was made, and without intent to violate the law against usury, plaintiff was entitled to recover the amount of said note, which charge the Court refused to give, and plaintiff excepted.</p> <p>There was also proof conducing to shew, that one from whom the beneficial plaintiff bought the notes, after obtaining them, called on the defendants for payment — that defendants had previously objected to paying, on account of the usury, but on this occasion, told the holder of said notes, that if he would wait with him until the end of year, he would pay the note, and legal interest — that the holder did wait accordingly. Upon this proof, the plaintiff asked the Court to charge, that if the defendant had agreed with the nominal, or beneficial plaintiff or the holder, from whom the notes were bought, upon consideration of time given, to pay the principal and legal interest, and time had accordingly been given, the plaintiff was entitled to recover the principal and legal interest; which charge the Court refused to give, and the plaintiff excepted. The jury found for the plaintiff one dollar, for which the Court rendered judgment.</p> <p>The er
Similar Rulings
<p>Action of assumpsit to recover fare for travel on the plaintiffs’ road.</p> <p>The material facts as found by an auditor, to whom the case was referred, are as follows.</p> <p>From the 25th of August, 1856, to the 5th of February, 1857, Mr. Ketchum, the defendant, and his wife, child and servants, frequently passed over the plaintiffs’ road, between Westport and New York, without paying fare, claiming a right so to do by virtue of a certain resolution of the railroad company hereinafter set forth! For the whole amount of that fare the plaintiffs were entitled to recover in this suit, unless the defendant was exonerated by that resolution from all obligation to pay it. I</p> <p>The railroad company was incorporated in May, 1844, by an act of the General Assembly, which act, (4 Private Acts, 1020,) and the acts in addition thereto, were in evidence in the case. In June, 1844, an unsuccessful effort was made to procure subscriptions to the capital stock. On the 13th of August, 1844, the grantees of the charter adopted certain rules, providing, among other things, that each person who should subscribe for stock should have power, at pleasure, within a certain time, and upon certain conditions, to surrender his stock to the company and thereby relieve himself from liability upon his subscription. It was further provided that each subscriber should advance one dollar per share on one quarter of the number of shares for which he should subscribe. The object of this arrangement was, to obtain the necessary subscriptions, organize the company, and raise funds for preliminary surveys. Under this arrangement 20,400 shares of stock were subscribed for, under date of August 14th, 1844, by a few persons, funds were raised for the surveys, and an executive committee was appointed by the subscribers. The surveys were completed in February, 1845. From that time until the 19th of May, 1846, no material progress was made in organizing the company or procuring the road to be constru
Facing something similar at work?
Court rulings like this one are useful, but every situation is different. Take 2 minutes to see which laws may protect you — it's free, private, and no account is required to start.
This ruling information is sourced from public court records via CourtListener.com. It is provided for informational and educational purposes only and does not constitute legal advice.