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Judgment Search Results Home > Cases Phrase: the usurious loans act 1918 Sorted by: old Year: 1873

1873

Tiffany Vs. Boatman's Institution

Court : US Supreme Court

Decided on : Jan-01-1873

..... the principal to him, applied only to "persons" -- that is to say, to natural persons -- and did not include corporations; that therefore loans by corporations at rates forbidden by law -- usurious loans -- stood upon general principles, and being illegal were wholly void; that applying these principles: 1st. to the case of the $135,000, ..... v. boatman's institution 85 u.s. (18 wall.) 375 appeal from the circuit court for the district of missouri syllabus 1. although a loan of money may be usurious and the contract to return it void, yet in the absence of statutory enactment, it does not follow that the borrower, after he has once ..... them should, on the principle of that decree, be refunded, as much as that upon the larger note. it is true that usury is only predicable of an actual loan of money, and equally true that a negotiable promissory note, if a real transaction between the parties to it, can be sold in ..... as such trustee, filed a bill in the court below against the boatman's institution to recover from it, as having been lent at usurious rates and in violation of the bankrupt act, the moneys which it had lent to darby -- that is to say, the $135,000 -- for which he had given the one ..... to loans by artificial as well as natural persons, although the former might be restricted to a less rate of interest than the latter. it is contended by the defendant that this act was meant to apply to corporations, and that if a bank, discounting a note in the course of business, commits usury, it .....

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1873

Tiffany Vs. National Bank of Missouri

Court : US Supreme Court

Decided on : Jan-01-1873

..... under state laws, the rate so limited shall be allowed for associations organized in any such state under the act." what, then, were the rates of interest allowed in missouri when the loans were made by the defendants that are alleged to have been usurious? it is admitted to have been 10 percent per annum, allowed to all persons, except banks of issue ..... u.s. (18 wall.) 409 error to the circuit court for the district of missouri syllabus under the thirtieth section of the national banking act, which enacts that national banks "may take, receive, reserve, and charge on any loan . . . interest at the rate allowed by the laws of the state or territory where the bank is located, and no more, except that ..... has been paid than the national banking associations are allowed to receive that they are made liable to pay twice the interest. the act of congress enacts that every such association "may take, receive, reserve, and charge on any loan or discount made, or upon any note, bill of exchange, or other evidences of debt, interest at the rate allowed by the ..... organized under the laws of the state, and they were allowed to charge and receive only 8 percent the position of the plaintiff is that the general provision of the act .....

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