Loveland v. Ritter

Illinois Supreme Court
Loveland v. Ritter, 50 Ill. 54 (Ill. 1869)
Lawrence

Loveland v. Ritter

Opinion of the Court

Mr. Justice Lawrence

delivered the opinion of the Court:

It is clear there was usury in the note from Eitter to Love-land, but we are of opinion the circuit court erred in decreeing to appellant only $338.04. The testimony of the parties as to the amount actually loaned is contradictory, but Eitter, only a few months before filing his bill, made a formal tender of $425, and when Loveland declined to receive that sum as the amount due, Eitter deposited it with the clerk of the court to be paid to Loveland upon his surrender of the note and cancellation of the mortgage, and took a certificate of the clerk to that effect, which was read upon the hearing. We consider this very deliberate statement by Eitter of the amount legally due, as stronger upon that point than any other proof in the case, and the court should have pronounced a decree for that sum.

Decree •reversed.

Reference

Full Case Name
Charles D. Loveland v. Richard Ritter
Status
Published
Syllabus
Usury—what constitutes. Where a note was given, in renewal of one previously executed, but for a greater sum than was legally due, such second note was declared to be usurious.