49 Ill. 142
Decided September 15, 1868
Illinois Supreme Court · decided 1868-09-15
Writ of Error to the Superior Court of Chicago; the Hon. Joseph E. Gary, Judge, presiding. This was an action of assumpsit, brought by the defendant in error, against the plaintiff in error, in the Superior Court of Chicago, to recover the sum of five hundred dollars. The cause was tried before the court and a jury, and a verdict found for the plaintiff below for $535.25.
Decided 1868-09-15
¶1delivered the opinion of the Court:
¶2The judgment must be reversed in this case, because it is for too large a sum. The jury evidently allowed interest at the rate of ten per cent, on the money borrowed. For this there was no warrant, as there had been no contract in regard to the rate of interest, and in such cases the legal rate is six per cent.
¶3The judgment must be reversed and the cause remanded-
¶4Judgment reversed.