Court : US Supreme Court
Decided on : Jan-01-1823
..... question from the planters' bank, which was a trading within the prohibitions of its charter; secondly, that the transfer was usurious, it having been made in consideration of a loan or discount to the planters' bank, upon which more than at the rate of six percent per annum was taken by ..... to suppose that it meant to create a bank without any powers to carry on the usual business of a bank. the act contemplates throughout an authority to make loans and discounts. it provides expressly for the establishment of offices of discount and deposit, and the very clause now under consideration ..... they are not void as against parties who are strangers to the usury. the statute incorporating the bank of the united states does not avoid securities on which usurious interest may have been taken, and the usury under the act of the legislature of georgia cannot be set up as a defense to ..... interpretation of this clause that it prohibits the bank from purchasing anything but the enumerated articles, for that would defeat the powers given in other parts of the act. the 7th section declares that the bank shall have capacity to purchase, receive, &c.;, lands., &c.;, goods, chattels, and effects, of whatsoever kind ..... interest at the rate of six percent on notes or bills discounted by it. banks and other commercial corporations may bind themselves by the acts of their authorized officers and agents without the corporate seal. the negotiability of a promissory note payable to order is not restrained by the .....Tag this Judgment!