Footman v. Stetson
Footman v. Stetson
Opinion of the Court
The case shows, that the payment of what is alleged as being usurious interest, was made in the spring of the year 1846. This action to recover the same was commenced on Feb’y 1, 1847. The statute of limitations which the defendant relied upon, R. S. chap. 69, § 8, is inapplicable.
It was objected, that Orrin Footman, who was allowed to testify for the plaintiff in the case, was incompetent, on the ground that he was upon the note in which illegal interest was reserved. It appears by the case, that he signed the note as surety for the plaintiff, and had no other interest therein. The judgment recovered upon the note was satisfied fully by the plaintiff. By the authority of the case of Webb v. Wilshire, 19 Maine, 406, this did not render him incompetent.
A more material question involved in the case, is whether an action can be maintained to recover back illegal excess paid by the debtor upon a judgment rendered in a suit upon the note containing the usurious interest.
It is a well established principle of the common law, that a judgment cannot be impeached directly, indirectly or collaterally. While it remains unreversed, it is conclusive upon the parties in every respect. Loring v. Mansfield, 17 Mass. 394; Homer v. Fish & al. 1 Pick. 435; Whitcomb v. Wil
But it is insisted for the plaintiff, that this doctrine of the common law has been modified by the R. S. chap. 69, § 5, wherein it is provided that, “ whoever on any such loan shall in any manner pay a greater sum or value, than is allowed to the creditor, may, or his personal representatives may, recover of the creditor or his representatives, by action at law, the excess so received by such creditor, whether in money or other property.” The counsel for the plaintiff contends, that the terms “ hi any manner pay,” &c. will embrace all payments of illegal interest, not excejrting those made in discharge of a judgment rendered on a contract tainted with usury, when no such defence was set up, while the action was pending. This construction is contended for as being the literal meaning of the language used. If the terms employed are to be thus interpreted, they will equally well apply to the payment of a judgment, when the defence of usury was set up at the trial, and upon that issue a verdict was rendered for the plaintiff for the full amount appearing upon the face of the contract to be due, inasmuch as the statute has not made the right to recover back the excess over lawful interest to depend upon the issue presented at the trial.
But it is believed that the language of the statute itself, whether construed literally, or according to its spirit, will not so clearly sustain the views taken for the plaintiff, as to render it certain, that the rule of the common law was designed to be changed; When the manner in which a payment is
Reference
- Full Case Name
- Thomas J. Footman versus Stetson
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- 2 cases
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- Published