Smith v. Beach

U.S. Circuit Court for the District of Connecticut

Smith v. Beach

3 Day 268

U.S. Circuit Court for the District of Connecticut·Decided June 15, 1808·Published·Cited by 2 cases

Opinion

Bv the Court,

unanimously. A corrupt agreement is essential to constitute usury; and to form a corrupt agreement, as in all other contracts, the ittinds of the parties must meet. The assent of Beach was, therefore, as essential to the existence of, a usurious agreement as that of Bird.

From these premises it follows, as an undeniable consequence, that there could be no corrupt agreement while either of the parties remained ignorant of the excessive reservation; and the jury ought to have been so instructed.

NevV trial to be granted.

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Bv the Court,

unanimously. A corrupt agreement is essential to constitute usury; and to form a corrupt agreement, as in all other contracts, the ittinds of the parties must meet. The assent of Beach was, therefore, as essential to the existence of, a usurious agreement as that of Bird.

From these premises it follows, as an undeniable consequence, that there could be no corrupt agreement while either of the parties remained ignorant of the excessive reservation; and the jury ought to have been so instructed.

NevV trial to be granted.

Smith v. Beach, 3 Day 268 (circtdct 1808).

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Opinion

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