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eBook details

• Title: Ewing v. Howard
• Author : United States Supreme Court
• Release Date : January 01, 1868
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 54 KB

Description

Messrs. Waterson and Crawford, for the plaintiff in error: The note is void, being an illegal contract for usury, apparent upon its face. It expresses that it is made for value received on the day of its date, and yet calls for interest from a period two months and a half before that day, viz., from the day when the 10 per cent. law took effect; making the rate of interest in effect more than thirteen per cent. per annum. 'Every contract which is prohibited and made unlawful by statute, is a void contract, though the statute does not mention that it shall be so, but only inflicts a penalty on the offender. The penalty implies a prohibition.'2 Moreover, the illegality being apparent on the face of the instrument which is the subject of the suit, it is radical and pervading, attaching to the case wherever it may be. The leading Tennessee case of Isler v. Brunson3 is decisive.

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