Polkinghorne v. Hendricks
Polkinghorne v. Hendricks
Opinion of the Court
delivered the opinion of the court.
The legal import of the act of the appellant in writing his name on the back of the note payable to the appellee before its delivery to her, and to enable the maker to get the money from the payee, was to render him liable as an original promisor and co-maker of the note. He was a surety for the maker, Noonan, but the extension of time given upon pre-payment of interest, without the assent of the appellant, did not discharge him, because of the usury, which caused a forfeiture of all interest. Wherefore the forbearance was without consideration or legal obligation. Roberts v. Stewart, 31 Miss. 664.
The case of Brown v. Rrophit, 53 Miss. 649, is not applicable because of the change in the statute as to interest. At the date of the transaction between the appellee and Noonan, taking more than ten per cent, interest per annum caused a forfeiture of all interest.
That a special plea amounting to the general issue was formerly a ground for a special demurrer, but “ no pleading shall be deemed insufficient for any defect which could heretofore be objected to only by special demurrer.” Code of 1880, §1567; Acts of 1878,. 190; Code of 1857, 496, Art. 116. It was therefore error to sustain the.demurrer to the special pleas as amounting to the general issue, but the error is immaterial in view of the defense made-under the general issue as to the matter set up in the special pleas. The judgment is excessive. The plaintiff below attempted to cure-this error by a remittitur, but it was not for enough, as the calculation filed shows.
Judgment reversed because of the error in amount, and judgment may be entered here for the sum due.
Reference
- Full Case Name
- Henry Polkinghorne v. Fannie Hendricks
- Cited By
- 9 cases
- Status
- Published
- Syllabus
- 1. Commercial Law. Indorsement. Original promisor. Where a party writes his name on the back of a note before delivering, in order to enable the maker to obtain money from the payee, he thereby renders himself liable to the payee as original promisor. 2. Same. Surety. Forbearance. Usury. Such a party, though surety for the maker of the note, is not discharged by an extension of time on the note, to which he does not assent, when the extension is granted upon the prepayment by the maker of usury or interest. .The usury causes a forfeiture of all interest and the forbearance is therefore [without consideration or legal obligation. 3. Prepayment of Interest. Usury. Under the laws of this State the prepayment of the full legal rate of interest is usurous. 4. Interest. Forfeiture. Under the Code of 1880, £ 1141, the payment of more than ten per cent, per annum causes a forfeiture of all interest, and the payment will be treated not as interest, but as a payment on the principal. 5. Pleading. Special plea. General issue. Demurrer. It is error to sustain a demurrer to a special plea upon the sole ground that it amounts to the general issue. Code 1880, $ 1567; Act of 1878, 190; Code 1857, 495; Act 116.