Stanley v. Gadsby
Opinion of the Court
delivered the opinion of the Court.
This is an appeal from the circuit court of the United States for the District of Columbia, and for the county-of Washington.
This then is substantially an application for relief from usury; and the consequence of granting the injunction would be relief upon terms at variance with the rule of equity, so fully recognized at this term of the court, in the case of Brown v. Swann et al.: that he who seeks the aid of equity, to be relieved from usury, must do'equity by paying the- principal and legal interest upon the money borrowed.' The complainant does not offer to do so in his bill. This is essential to every such application in a court of equity: first, to give the court jurisdiction, and to enable the chancellor, if he thinks proper to do so, to require the paymenUof principal and interest before the hearing of the cause. The relief -sought in such casés is an exemption from the illegal usury. The whole inquiry on the hearing is to establish that fact, and to give relief to that extent.' Whenever then a complainant does not comply with the rule, by averring in his bill his readiness oT willingness to pay principal and interest; he can have no standing, in a court of equity.
The decree of the circuit court is affirmed.
This cause came on to be heard on the transcript of the record
Reference
- Full Case Name
- Thomas Stanley v. John Gadsby, Alexander M'Intyre and George Coner, Executors of James Walker and James Rhodes
- Cited By
- 1 case
- Status
- Published