Stansell v. Ga. Loan & Trust Co

• Decision Date: 13 May 1895
• Citation: 96 Ga. 227,22 S.E. 898
• Parties: STANSELL. v. GEORGIA LOAN & TRUST CO.
• Court: Georgia Supreme Court

22 S.E. 898

96 Ga. 227

STANSELL.

v.GEORGIA LOAN & TRUST CO.

Supreme Court of Georgia.

May 13, 1895.

Conflict of Laws—Usurious Contracts.

1. Under the decision of this court in the case of Jackson v. Mortgage Co., 15 S. E. 812, 88 Ga. 756, the notes sued on in this case, considered in connection with the deed given to secure the same, the other documents in evidence, and all the facts proved, were Georgia contracts; and the question whether or not these notes were affected with usury was properly determined with reference to the laws of this state.

2. According to the decision in Hughes v. Griswold, 9 S. E. 1092, 82 Ga. 299, and in view of the undisputed facts disclosed by the record, the jury were amply warranted in finding that the notes sued upon were free from usury, and the court committed no error in refusing a new trial.

(Syllabus by the Court.)

Error from superior court. Brooks county; A. H. Hansel, Judge.

Action by the Georgia Loan & Trust Company against R. L. Stansell. Judgment for plaintiff, and defendant brings error. Brought forward from the last term. Code, §§ 4271a-4271c. Affirmed.

S. T. Kingsbery, Bennett & Bennett, J. G. McCall, and W. C. McCall, for plaintiff in error.

E. P. S. Denmark and Anderson & Anderson, for defendant in error.

LUMPKIN, J. The Georgia Loan & Trust Company sued Stansell upon two promissory notes, each for $000 principal, with interest from their date at the rate of 8 per cent, per annum, payable semiannually, and due December 1, 1893. They stipulated that both principal and interest should be payable at a named bank in New York City, and that, if default should be made in the payment of interest, the principal should at once become due. These notes were made at Quitmau, Brooks county, Ga.. and on their face were payable to the Georgia Loan & Trust Company, of Americus, Ga. Their payment was secured by a deed to certain land in Brooks county, and purported to have been executed under section 1969 et seq. of the Code. Stansell, the maker of the notes, had previously made out a written application, addressed to one Humphreys, of Quitman, for the purpose of obtaining a loan of money, and in that application tendered, as security for the loan desired, the lands embraced in the deed above mentioned. He made default in the payment of interest, and accordingly the action was brought for the entire amount of principal and interest accrued up to the time of filing the declaration. Although, as already stated, the notes were made payable to the Georgia Loan & Trust Company, it distinctly appeared by the uncontradicted testimony that this company had really no interest whatever in making the loan, did not actually lend the money, and that the notes were made thus payable simply as a matter of convenience in obtaining the loan fromothe...