Ayres v. Probasco

14 Kan. 175
CourtSupreme Court of Kansas
DecidedJanuary 15, 1875
StatusPublished
Cited by27 cases

This text of 14 Kan. 175 (Ayres v. Probasco) is published on Counsel Stack Legal Research, covering Supreme Court of Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Ayres v. Probasco, 14 Kan. 175 (kan 1875).

Opinions

The opinion of the court was delivered by

Valentine, J.:

statement of facts. This was an action on two promissory notes and a mortgage. The notes were executed by William M. Ayres alone. The mortgage was executed (as it appears upon its face) 'by both Ayres and his wife, Melissa T. Ayres, and both the notes and the mortgage were executed to Richard Probasco. Probasco was the plaintiff in the court below, and Ayres and wife, Frank Sutter, and W. L. Challiss were the defendants. The defendant. Ayres and wife set up as defenses to the action that the notes were usurious, and the mortgage was void. The [184]*184transactions connected with the execution and delivery of said notes and mortgage were, so far as they are necessary to be stated, substantially as follows: Mrs. Ayres owned, and she and her husband occupied as a part of their homestead, the W.J of the S.E.J of section 18 in township 4, of range 21 east, in Doniphan county, less ten acres out of the southwest corner of said land. Said land was mortgaged to one A. B. Symns, who was foreclosing his mortgage in the district court of Doniphan county, and the land was about to be sold to ■satify said Symns’ mortgage. B. O’Driscoll was the attorney for Ayres and wife in said foreclosure suit. In order to save their land from being sacrificed, Ayres and wife concluded to try to borrow the money and pay off the mortgage. O’Driscoll acted as their agent in attempting to procure and negotiate the loan. He had an interview with W. L. Challiss, of Atchison, about the matter, and from what transpired they all expected to borrow the money of Challiss. They expected to borrow $1,000, and to pay interest thereon at the z’ate of fifteen per cent, per annum. O’Driscoll furnished an ordinary printed blank mortgage, and Ayres and wife signed and acknowledged the same before E. W. Stratton, a justice of the peace of Doniphan county. O’Driscoll and Ayres then took said blank mortgage to Atchison, and went to the office of said W. L. Challiss. Challiss however was not loaning money for himself, but was loaning money for Richard Probasco, of Maryland. He required a greater rate of interest than fifteen per cent, per annum. O’Driscoll and Ayres finally agreed to the terms proposed by Challiss, and Ayres executed his two promissory notes which read as follows:

“$550.00. Atchison, Kas., Dec. 1,1871.
“ One year after date I promise to pay to Richard Probasco, or bearer, five hundred and fifty dollars, value received, payable at Exchange Bank, with interest at 12 per cent, per annum from date until paid, and payable semi-annually.
“William M. Ayres.”

The other note is precisely the same as the above, except that it is made payable in “two years after date,” instead of in one. The two notes together amounted to $1,100. O’Dris[185]*185coll and-Challiss then filled up the said blank mortgage so as to make it correspond with said notes, and so as to make it a security for the payment of said notes, O’Driscoll doing the principal part of the writing. They filled up the blank for the description of the land with the same land that hád prior to that time been mortgaged to Symns; and they made Probasco the mortgagee. ■ The notes and the mortgage were then delivered to Challiss, as the agent of Probasco, and in consideration therefor Challiss paid Ayres $1,000, and only $1,000. Ayres, being present all the time, agreed to all that was done/ and ratified and qonfirmed the same. He therefore has no right to raise any question of mere irregularity in the execution of said mortgage. But the question of the execution of said mortgage is one of power, and not a question of mere irregularity, as we shall presently see. After Ayres received said money from Challiss he paid off the mortgage to Symns therewith. The notes and the mortgage to Probasco are the instruments upon which the present suit is brought.

1.Leading questions, when allowable. Ayres and wife now claim that said mortgage is void, and that said notes are tainted with usury, and these are the main questions in the case. It is true that a vast number of other questions are raised, but they are mainly technical and frivolous. For instance, the first question raised, , ' (both iu tms court and in the court below,) is# upon the ground that the court below allowed the plaintiff to ask O’Driscoll a leading question. Five such questions are raised in this court, and seven such questions were raised in the court below. Indeed, the defendants even objected to the plaintiff asking the defendant Ayres a leading question, although it was asked in a legitimate cross-examination of said Ayres. We have already stated something of the connection which O’Driscoll had with the transactions out of which this cause of action arose. O’Driscoll was also the attorney for Ayres and wife in this case in the court below. He was called as a witness for the plaintiff below. He did not show himself to be a “fast witness” for the plaintiff, but on the contrary plainly showed himself to be obviously the [186]*186reverse. Yet notwithstanding all this, seven different questions that were put to him by the plaintiff were objected to-by the defendants on the ground that they were “leading.” Some of them were leading; but still there was scarcely the remotest possibility that the witness could be led, either from inclination on his part or from inadvertence, into testifying too favorably for the plaintiff. His evidence abundantly shows this. The court therefore did not err in permitting leading questions to be put to him. Indeed, it possibly would have been an abuse of judicial discretion if the court had refused to permit such questions to be aske^l.

2. Knowledge of agent, isknowledge of principal. We will now pass from the many immaterial and unsubstantial questions raised by the defendants below to the more material ones. The whole of the transactions out of which this cause of action arose, were oarrie(j on anc[ consummated on the part of Probasco through his agent Challiss. Therefore, whatever came to the knowledge of Challiss, pending the negotiations for said loan, must be presumed to have come to the knowledge of Probaseo. Notice to the agent is notice to the principal, in such a case. Greer v. Higgins, 8 Kas., 519; 1 Parsons on Contracts, 74. And delivery of the notes and mortgage to Challiss, was delivery to Probaseo. Challiss was really standing in the place of Probaseo in every particular.

3. Usurious notes and contracts. What statute governs. Were said notes usurious? Certainly they were. Only $1,000 was loaned, although the notes were given for $1,100. And while under our statutes the highest rate of interest allowed to be contracted for is’ only twelve per cent, per annum on the amount of the debt or loan, yet in this case interest at the rate of twelve per cent, per annum was contracted for on an amount greater than the amount loaned. Twelve per cent, interest on $1,100 is more than twelve per cent, interest on $1,000. Twelve per cent, interest on $1,100 is equal to thirteen and two-tenths per cent, interest on $1,000. In 1871, when these notes were executed, all interest was forfeited if the parties contracted for more than the highest [187]*187rate of interest allowed by law. (Gen. Stat., 526, ch. 51, §4.) And the laws in force, when these notes were executed is the law that now governs, although a subsequent law (Laws of 1872, page 284,) has been passed by the legislature.

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Bluebook (online)
14 Kan. 175, Counsel Stack Legal Research, https://law.counselstack.com/opinion/ayres-v-probasco-kan-1875.