Nebraska Reports Volume 25

Nebraska Reports Volume 25

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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. 1889 edition. Excerpt: ...testified that he afterwards did. The plaintiffs also testified that while this transaction was taking place Wilhelmson repeatedly declared that the con Wilhelmson v. Bentley. sideration for said notes was usurious, and that they would not be paid. This was also corroborated by other members of plaintifi's' family, who testified at the trial, and contradicted by the defendants. Of these last notes, the one falling due April 10th was paid and taken up. The other five were endorsed by Bentley to Potter before maturity, and form the subject-matter of this controversy. The case of Farwell v. Jlleyers, 35 Ill., 40, was in most respects similar to the one at bar, the principal distinction being that there had been a judgment rendered on a cognovit against one Zimmerman and F arwell, the latter being security. Farwell brought his bill in equity, and had an injunction against the judgment, claiming that the holders of the note had released him by giving time to his principal without his consent, and claiming that certain payments of usurious interest should be credited on the judgment. He failed in his proof of the extension of time to Zimmerman, and the superior court dismissed the bill. On error to the supreme court the judgment of the superior court was reversed. The court, in the opinion, say: "Although usurious interest voluntarily paid since the passage of the act of 1857 cannot be recovered back, still, so long as any part of the debt remains unpaid, the debtor may insist upon a deduction of the usury therefrom. The usury received is considered as having been extorted by means of the debt, and is to be applied in part paynleni of the same." See also N. E. M. S. Co. v. Aughe, 12 Neb., .504, cited by counsel for more

Product details

  • Paperback | 278 pages
  • 189 x 246 x 15mm | 499g
  • United States
  • English
  • black & white illustrations
  • 1236896750
  • 9781236896759