Cabaness v. Matthews
Cabaness v. Matthews
Opinion of the Court
delivered the opinion of the Court.
Without minutely stating all the facts of this case, it suffices for the decision of the question presented by this appeal from the order of the Court below dissolving the injunction that had been awarded the appellant to restrain the trustees in a deed of trust from the execution of it for the purpose of providing the funds to pay an obligation of J. Sf M. Booth to Edwin Matthews for 850 dollars, to state, that the pleadings incontestibly shew that after a series of transactions commencing in August 1837, between Cabaness and Matthews, on Avhich usury at the rate of five per cent, per month was charged, Cabaness was ostensibly indebted to Matthews on those transactions the amount of 1195 dollars, for which he confessed judgment in May 1840. That on
On this state of facts the question is, was the injunction properly dissolved ? The facts ascertaining that at the time the obligation of the Booths was delivered by Cabaness to Matthews, he had received from Cabaness for usurious interest, more than 743 dollars 75 cents, the amount at which the obligation was valued; if Matthews could be made accountable to Cabaness for these usurious payments, then Cabaness did not owe him any thing, and the obligation as between Cabaness and Matthews, was wholly for usury, and without consideration ; so that so far as Matthews was concerned, it- is not nor could be considered that there should be a dissolution of the injunction. Did the rights of the Booths require that the injunction should be dissolved ? They had paid nothing, and if they were relieved from their obligation to Matthews, they would have no right to proceed on the deed of trust to provide the funds to pay it. The object of enforcing the deed of trust, to provide the means of paying their obligation to Matthews, and the effect of permitting them to do so, is to apply the property of Cabaness to pay a debt to Matthews when Matthews is liable to Cabaness for the usury he would thus receive, and has heretofore received, to a larger
Decree reversed, and cause remanded to be proceeded in according to the principles above declared.
Reference
- Full Case Name
- Cabaness v. Matthews & als.
- Status
- Published