E. M. Edwards v. W. W. Ramsey And Others

• Decision Date: 16 December 1882
• Citation: 14 N.W. 272,30 Minn. 91
• Parties: E. M. Edwards v. W. W. Ramsey and others
• Court: Minnesota Supreme Court

14 N.W. 272

30 Minn. 91

E. M. Edwards v. W. W. Ramsey and others

Supreme Court of Minnesota

December 16, 1882

Appeal by plaintiff from a judgment of the district court for Lyon and Lincoln counties, Cox, J., presiding.

Judgment affirmed.

Mathews & Andrews, for appellant.

Forbes & Seward, for respondents.

OPINION

Gilfillan, C. J.

The complaint, as a cause of action, alleges the execution by defendants of a promissory note, dated September 24, 1878 for the payment, to the order of Seymour, Sabin & Co., on December 1, 1878, of $ 150, with interest at the rate of 12 per cent. per annum, and the transfer of it to plaintiff. The answer denies each and every allegation in the complaint. The parties submitted the case to the court below, upon a stipulation that if the court held a certain contract competent evidence under the allegations of the complaint plaintiff should have judgment; but if the court held it incompetent, defendants should have judgment. The court held the contract incompetent, and judgment for defendants was entered, from which plaintiff appeals. The question presented to this court is the same as that submitted to the court below. The contract referred to in the stipulation is as follows:

"$ 150. Lake Benton, September 24, 1878.

"For value received, on or before the first day of December, 1878 I promise to pay to the order of Seymour, Sabin & Co. $ 150 at the office of Bank of Marshall, in Marshall, Minnesota, with interest at 12 per cent. per annum from date until maturity, and 12 per cent. per annum interest on the whole amount due upon said note at the maturity thereof until the same is paid. Agreed that there shall be a reduction of 5 per cent. per annum for payment on or before maturity; and if suit is commenced on this note, I agree to pay reasonable attorney's fees, and consent that the same shall be taxed as costs and entered up as part of the judgment. The express condition of the sale and purchase of the Minnesota Chief Separator, for which this note is given, is such that the title, ownership, or right of possession does not pass from the said Seymour, Sabin & Co. until this note and interest is paid in full; that the said Seymour, Sabin & Co. have full power to declare this note due and take possession of said machines at any time they may deem themselves insecure, even before the maturity of the note, and to sell said machines at public or private sale, the...