Arkansas Reports; Cases Determined in the Supreme Court of Arkansas Volume 3

Arkansas Reports; Cases Determined in the Supreme Court of Arkansas Volume 3

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1842 edition. Excerpt: ..."An act more specially defining interest on money, and regulating the recovery thereof," as enacts " That all recoveries, contracts, and legal liabilities for the payment of money, where there is no express agreement to pay interest, shall bear interest at the rate of six per centum per annum, from the time the same shall be recovered or become due; and that; no judgment shall bear a greater or less rate of interest than that agreed upon or fixed by law," which determines the extent of the liability of the plaintifls in error, for the breach of their contract, as laid in the declaration, which it was the avowed object of the act in question to increase; and so far it must be regarded as being within the prohibition of the Constitution of this State, and of the United States, that no law impairing the obligation of contracts should ever have been made. The breach in the declaration is suflticient, and avers all the material facts necessary to a recovery. The allegation relating to the twenty-five per cent. per annum, was unnecessary, and, in the opinion of this Court, ought to be stricken out, as wholly foreign and impertinent, as the enactment purporting to give it, and by virtue of which it is claimed, is void. It can therefore only be considered as surplusage; and as, without it, enough is left to show there was cause of action, it will not vitiate that which is good. And the judgment of the Circuit Court having been given for the twenty-five per centum per annum, -under the act of the Legislature herein declared to be void, is reversed. I or THE STATE OF ARKANSAS. 309 Cnsnuzs N. BLACKMORE, ct al., against Tm: BANK or THE STATE. Ennon to Independence Circuit Court. The Legislature, previous to December, 1839, more

Product details

  • Paperback | 222 pages
  • 189 x 246 x 12mm | 404g
  • United States
  • English
  • black & white illustrations
  • 1236902009
  • 9781236902009