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68 Minn. 210

Morse v. Wellcome

Supreme Court of Minnesota

Decided May 10, 1897

Supreme Court of Minnesota · decided 1897-05-10

Appeal by plaintiffs from an order of the district court for Blue Earth county, Severance, J., sustaining a demurrer to their complaint. The complaint alleged that plaintiffs executed to defendant a promissory note for $529, dated May 11,1891, and due September 11, 1891, with interest at the rate of seven per cent, per annum,, secured by-mortgage upon certain real estate.

Relies on Avery v. Creigh · Daniels v. Wilson

Good law ✅— No negative treatment on recordhow we know

Affirmed · Decided 1897-05-10

How this case has been cited

Cited by 5 later decisions — most recently April 1949

5 state decisions

20189719001910192019301940decided

Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.

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COLLINS, J.2

¶1It was not alleged in the complaint herein that the original note or mortgage were in any degree tainted with usury; and, if not usurious, the original transaction could not be made so by the subsequent agreement to extend the time of payment, although such agreement was in consideration of a payment of, or a promise to pay, usurious interest. Avery v. Creigh, 35 Minn. 456, 29 N. W. 154. In so far as the agreement for an extension was a contract to pay a compensation for the past use of money, it was not a contract to pay interest in any legal or proper sense, or within the meaning of the statute regulating the rate of interest. Daniels v. Wilson, 21 Minn. 530. Whether the “contract, in so far as it provided for compensation for the future use of the amount of the note, was or was not usurious, we are not required to decide, for, admitting that it was, facts sufficient to constitute a cause of action were not stated in the complaint.

¶2Order affirmed.

¶3 Buck, J., took no part.

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