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6 Va. 541

Stone v. Ware

Supreme Court of Virginia

Decided March 22, 1820

Supreme Court of Virginia · decided 1820-03-22

On the 7th of January 1805, William 1. Stone, with Jesse Hughes his surety, was indebted to John Ware, by execution upon a forthcoming bond, in the sum of 23CL 13. 0J: Ware was indebted to Charles Smith, by bond for 351Z. payable February 10th, 1806.

Decided 1820-03-22

The Court’s

¶1opinion was delivered as follows.

¶2The arrangement by which the appellants were induced to give their bond to the appellee Smith, was indeed minted with Usury, but it is not even alledged that Smith *550was privy thereto, or had any knowledge thereof. He only agreed to accept that bond in lieu of another, which he held for a just debt. The authorities seem to hear us °11^ saPnS> ^iaf> under these circumstances, the bond as to Smith is not to he impeached of usury, and he is to get full payment thereof. Had this knowledge been charged and proved upon him, the case might have been otherwise. In relation to the appellee Ware, however, the usurious arrangement being proved, the appellants are entitled to relief. That relief is to be upon the terms of paying the principal justly due to him ( Ware) with legal interest. The decree is therefore correct as it relates to Smith, hut is erroneous as to Ware, to the extent of the usurious gain received by him; the difference between the two debts having been already received by Stone the younger.

¶3The decree is to be consequently reversed, and the cause remanded, to have an account taken, and a final •decree rendered pursuant to the principles of this decree.

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