Wycoff v. Longhead

Supreme Court

Wycoff v. Longhead

2 U.S. 92, 1 L. Ed. 303, 2 Dall. 92, 1785 U.S. LEXIS 233

CourtSupreme Court of the United States

DecidedSeptember 1, 1785

StatusPublished

Cited by16 cases

This text of 2 U.S. 92 (Wycoff v. Longhead) is published on Counsel Stack Legal Research, covering Supreme Court of the United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wycoff v. Longhead, 2 U.S. 92, 1 L. Ed. 303, 2 Dall. 92, 1785 U.S. LEXIS 233 (1785).

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Opinion

THIS was an a action on a promissory note; to which the defendant pleaded the act of Assembly against usury; and thereupon the following points were ruled by the Court, in their charge to the Jury.

1st. That where more than leg I interest was included in any note, bond, or specialty, the whole amount could not be sued for and recovered: But the plaintiff was entitled, in such case, to a verdict for the just principal and lawful interest.

2d. That if a man, directly, or indirectly, actually receives more than fix per cent, he incurs a forfeiture equal to the money &c. lent; but if an action is brought to recover the amount of the loan, a verdict ought not to be given for the defendant, as that would, in effect, be putting the money into his pocket, instead of working a forfeiture to the Commonwealth.

3d. That a man may, bona fide, purchase any security for the payment of money, at the lowest rate he can, without incurring the penalties of usury.

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THIS was an a action on a promissory note; to which the defendant pleaded the act of Assembly against usury; and thereupon the following points were ruled by the Court, in their charge to the Jury.

1st. That where more than leg I interest was included in any note, bond, or specialty, the whole amount could not be sued for and recovered: But the plaintiff was entitled, in such case, to a verdict for the just principal and lawful interest.

2d. That if a man, directly, or indirectly, actually receives more than fix per cent, he incurs a forfeiture equal to the money &c. lent; but if an action is brought to recover the amount of the loan, a verdict ought not to be given for the defendant, as that would, in effect, be putting the money into his pocket, instead of working a forfeiture to the Commonwealth.

3d. That a man may, bona fide, purchase any security for the payment of money, at the lowest rate he can, without incurring the penalties of usury.

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Bluebook (online)

2 U.S. 92, 1 L. Ed. 303, 2 Dall. 92, 1785 U.S. LEXIS 233, Counsel Stack Legal Research, https://law.counselstack.com/opinion/wycoff-v-longhead-scotus-1785.

Opinion

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