Reports of Cases at Law and in Equity; Argued and Determined in the Supreme Court of the State of Iowa Volume 48
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. 1879 edition. Excerpt: ...to be tainted with usury. But this was more in the nature of a legal conclusion from conceded facts, than a finding of facts based on evidence which was in any manner conflicting. Such conclusion is the subject of review in this court. Associations, incorporated or unincorporated, based on the same general principles as the plaintiff; have existed for some time both in this country and England. In the latter they do not possess corporate powers, and the ruling there seems to be that such constracts as the one under consideration are not usurious, because the associations are mere partnerships, and the transaction constitutes a Hawkeye Benefit and Loan Association v. Blackburn. dealing in partnership funds. Silver v. Barnes, 6 Bing., N. It was so held, also, in Shannon v. Dunn, 43 N. H., 194; Merrill o. Mt-Intire, 13 Gray, 157, and we do not doubt but that similar rulings have been made in other States. We believe it to be true that in neither New Hampshire nor Massachusetts was the association vested with corporate powers. Certainly this is true as to the former State. In Pennsylvania the contrary doctrine prevails. William. Tell Saving Fund Association, 39 Pa. St., 137. In Connecticut such associations have corporate powers, and it was in substance held such contracts were usurious. The Mechanics' and Working1nen's Mutual Savings Bank and Building Association of New Haven 1;. Wilcox et ul., 24 Conn., 147. The same rule was adopted in Baltimore Permanent Building and Land Society v. Taylor, 41 Md.; Mills 'v. Salisbury Building and Loan Association, 75 N. C., 292; Forest City United Land and Building.Associa.tion 1: . Gallagher ct al., 25 O. St., 208. Without stopping to inquire whether there is any difference between an...
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- 189 x 246 x 13mm | 435g
- 13 Sep 2013
- Illustrations, black and white