Perry v. Kearns

Decided April 17, 1862

Supreme Court of Iowa · decided 1862-04-17

Injunction. The petition shows that on the 3d day of June, 1856, one Webster borrowed of Kearns the sum of one thousand dollars, for the use of which he agreed to pay interest at usurious rates. Webster executed his note for a sum equal to the principal and the usurious interest, and secured the same by executing a mortgage on certain real estate. This real estate was subsequently sold by Webster to plaintiff, and conveyed by deed of general warranty.

Decided 1862-04-17

Weight J.

¶1—

¶2The cases of Hollingsworth v. Swickard, 10 Iowa, 385; Frost v. Shaw, Id., 491; and Powell v. Hunt, 11 Id., 430, are decisive of the question involved in this; and following them, we are constrained to hold that the court below erred in refusing to dissolve the injunction. Complainant was in no condition to object to the alleged usury in the original contract between his grantor and the respondent. And see further upon this subject, Stephens v. Minor, 8 Ind., 352; Campbell v. Johnston, 4 Dana, 177.

¶3Keversed.