25 Colo. App. 322 | Colo. Ct. App. | 1913
This action was brought upon a promissory note, which was set forth at length in the pleadings and reads as follows:
“$1,300.00 ' Red Oak, Iowa, 4-12-1901.
“.............. after date, for value received, we promise to pay to the order of Mrs. E. H. Beckwith the sum of thirteen hundred dollars, with 7 per cent per annum interest from date. Interest payable annually, and to draw interest as principal. Payable at Red Oak National Bank, of Red Oak, Iowa. We further agree to pay a reasonable attorney’s fee in ease suit is brought on said note. Said fee to be taxed up as part of the cost of suit. And it is also agreed that a Justice of the Peace shall have jurisdiction hereon to an amount not exceeding three hundred dollars.
(Signed) “S. L. Baxter.”
The appellant, defendant below, pleaded payment and the statute of limitations, and the appellee replied, denying the payment in whole or in part and alleging that, in the latter part of 1904, March, 1905, and in August, 1906, the appellant made unqualified promises to her to pay said note. A trial was had to a jury in the district court of the city and county of Denver, resulting in a verdict in favor of the appellee in the sum of $1,250.00, upon which judgment was duly entered.
The appellant urges that the note sued upon, being a demand note, became due immediately after delivery, and that, therefore, the statute of limitations operated from that date'and became effective before the suit was brought.
We think it manifest, from the terms of the note and the evidence in support thereof, that it was not the in
However, the evidence of appellant is wholly inconsistent with his plea of the statute of limitations, as he testified and showéd that he made payments on the note from November, 1902, to 1906, and the jury must have allowed considerable credits upon the note, since the verdict is so much less than the principal and interest due thereon. The evidence supported neither the defense of full payment nor the defense of the statute of limitations.
We find in the record‘affidavits of individual jurors as to the means used in reaching the verdict and the intention of the jury in the verdict so reached. It would be improper for us to attempt to test the correctness or incorrectness of this verdict, or the scope of it, by a resort to these affidavits. — Wray v. Carpenter, 16 Colo., 271, 27 Pac., 248, 25 Am. St., 265; Johnson v. People, 33 Colo., 224,. 80 Pac., 133, 108 Am. St., 85.
The most serious question raised in the record in
The parties may legally stipulate for the payment of interest according to the laws of the state where the instrument is made, or according to the laws of the place of payment, and the rate thus agreed upon may be recovered, although it may be illegal under the laws of the other state. — Eccles v. Herrick, 15 Colo. App., 350, 62 Pac., 1040; McKay v. Belknap Sav. Bk., 27 Colo., 50, 59 Pac., 745.
Ordinarily the validity of a contract is to be determined by the law of the place where made, and the note before us having been made and specifically made payable in Iowa, its validity and the validity of its provision for interest is to be determined by the law of that state.— Cockburn v. Kinsley, 135 Pac., 1112; Wolf v. Burke, 18 Colo., 264-268, 32 Pac., 427, 19 L. R. A., 792; Richman v. S. Omaha Nat. Bk., 76 Ill. App., 637; Bigelow v. Burnham, 90 Iowa, 300, 57 N. W., 865, 48 Am. St. Rep., 442; Stickney v. Jordan, 58 Me., 106, 4 Am. Rep., 251; Pine v. Smith, 11 Cray (Mass.), 38; Long v. Long, 141 Mo., 352, 44 S. W., 341; Coad v. Home Cattle Co., 32 Neb., 761, 49 N. W., 757, 29 Am. St. Rep., 465; Curtis v. Leavitt, 15 N. Y., 9, 230, 296; 22 Cyc., 1476, and other cases there cited.
The decisions of the highest courts of the state of ■ Iowa recognize the rights of the parties to contract there
Tfie instrument sued upon being made, and specifically made payable, in tfie state of Iowa, and being valid there under tfie decisions of tfie highest courts of tfiat state, should be field enforceable in this state.
We feel tfiat substantial justice has been done, and find no reversible error in tfie record, and, therefore, tfie judgment is hereby affirmed.