A Summary of the History And Law of Usury : With An Examination of the Policy of the Existing System, And Suggestions for Its Amendment, Together With a Collection of Statutes
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Usury (with few exceptions) so far taints every security of which it forms the consideration, as to render it absolutely void, and no payment or subsequent act of the parties can render it available ; so if it be good in its inception, no subsequent arrangement will render it usurious, (a) And this holds equally where the consideration for a bond or bill is of a mixed character, as partly good and partly usurious, the latter so far taints the whole as to prevent the holder recovering even the s...ound part ♦upon that instrument, although he were minded to abandon r- ^g ^ -, that part which he knew to be usurious, so all writings whatever ■- for the strengthening an usurious contract are void.(6) An exception has been made in favour of indorsees of bills of exchange, or promissory notes, founded on Usury, in the hands of third parties, where valuable consideration has been given, without notice of the cir- cumstance. Vid. post. p. 87.
Where a lease was granted to secure a sum really lent, and merely to secure the principal, and another agreement was made at the time, between ' Vni)See these Statutes more at length, Appendix A.
What to read after A Summary of the History And Law of Usury : With An Examination of the Policy of the Existing System, And Suggestions for Its Amendment, Together With a Collection of Statutes?
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To quickly assess the difficulty of the text, read a short excerpt:
Usury (with few exceptions) so far taints every security of which it forms the consideration, as to render it absolutely void, and no payment or subsequent act of the parties can render it available ; so if it be good in its inception, no subsequent arrangement will render it usurious, (a) And this holds equally where the consideration for a bond or bill is of a mixed character, as partly good and partly usurious, the latter so far taints the whole as to prevent the holder recovering even the s...ound part ♦upon that instrument, although he were minded to abandon r- ^g ^ -, that part which he knew to be usurious, so all writings whatever ■- for the strengthening an usurious contract are void.(6) An exception has been made in favour of indorsees of bills of exchange, or promissory notes, founded on Usury, in the hands of third parties, where valuable consideration has been given, without notice of the cir- cumstance. Vid. post. p. 87.
Where a lease was granted to secure a sum really lent, and merely to secure the principal, and another agreement was made at the time, between ' Vni)See these Statutes more at length, Appendix A.
What to read after A Summary of the History And Law of Usury : With An Examination of the Policy of the Existing System, And Suggestions for Its Amendment, Together With a Collection of Statutes?
You can find similar books in the "Read Also" column, or choose other free books by Kelly, James Birch to read onlineMoreLess
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