Stoddard v. Lloyd
Stoddard v. Lloyd
Opinion of the Court
The notes in suit were given on the twenty-fifth day of April, 1884, for an aggregate of six hundred and ninety-two dollars, and provide for the payment of interest annually at the rate of ten per cent, per annum. Appellants claim that the notes are usurious, in that they were given to settle certain judgments which were tainted with usury, and which were rendered corruptly, in furtherance of a usurious contract between the maker of the notes and plaintiff. Appellants also claim that the original consideration for the notes in suit consisted of two, loans, made in the year 1880, one of which was made in, January for one hundred and fifty dollars, and one in June for one hundred dollars; that notes were given for said loans, which were made payable ninety days after date, and provided for the payment of interest at the rate of twenty-five per cent, per annum; that said loans were renewed from time to time by the giving of new notes, which were so drawn as to provide for the payment of interest at the aforesaid rate; that the judgments for which the notes in suit were given were rendered collusively, for the purpose of cutting off the defense of usury; and that about the first of March, 1884, T. M. Lloyd paid to plaintiff the sum of-
I. Appellee objects to a consideration of this case on its merits, on the ground that appellants failed to serve certain co-defendants with notice of appeal. The record submitted to .us shows that all defendants who do not unite in the appeal were duly served with notice of it, and the objection is therefore not well founded.
II. The evidence in the case is in many respects conflicting and unsatisfactory, but it is clearly shown that the judgments in question were rendered on usurious notes. We are satisfied, however, that appellants’ claim in regard to the sums of money received by T. M. Lloyd of plaintiff, the rate of interest, and the payments made by him are unreliable. How much usury was involved we are not required to determine. The judgments were three in number, and were rendered in a justice’s court. The actions were brought in. the court of a justice of the peace named Alexander. T. M. Lloyd, and two others who were sureties on the notes upon which the actions were brought, appeared and obtained a change of forum in each case to the court of another justice, named French. The defendants filed an answer in each case. Afterwards, and on the same day, Lloyd consented that judgment should be rendered against him in each case for the amount of the note in suit, and judgments were rendered against him according to his offer on the same day, to-wit, April 22, 1884. The cases were continued as to the other defendants, and the judgments against Lloyd were afterwards satisfied as of the date of-
III. Questions are raised as to the sufficiency of certain certificates of the trial judge to identify the evidence and make it of record, but in view of the conclusions we have reached, based on the record as it is claimed to be by appellants, we do not find it necessary to determine them.
The decree of the district court is
Affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.