50 S.C. 16 | S.C. | 1897
The opinion of the Court was delivered by
This is an appeal from a judgment of foreclosure of a mortgage of real estate rendered by his Honor, Judge Aldrich. The decree of the Circuit Judge, which, with the exceptions thereto, should be set out in the report of this case, except so much thereof as relates to the matter of homestead, to which there is no exception, and that part thereof providing for a sale of the mortgaged premises, sets forth fully and fairly the facts of the case, and hence no detailed statement thereof is needed here. It is sufficient to say, in general terms, that the mortgage was given to secure the payment of a note, of which the following is a copy: “$1,840. On the 1st day of December, 1881, I promise to pay I. M. Harrell, or order, $1,840, for value received, with interest from date. J. N. Parrott (u. S.) December 1, 1880.” Besides certain credits indorsed on the note, which were allowed, the note bears the following indorsements: “Interest on the within note to be at the rate of ten per cent, after 1883. October 20, 1885. (Signed) J. N. Parrott.”
The general questions raised by the appeal are,frst, as to whether defendant should be allowed credit for certain alleged payments not indorsed on the note; second, whether there was any usury in the transaction.
As to the second question, it is quite certain that the note
It is contended, however, by appellant that there was error in this view, for two reasons. 1st. Because the new agreement evidenced by the indorsement is without consideration, and, therefore, void. 2d. Because it provided for the payment of the higher rate of interest from a date
The judgment of this Court is,- that the judgment of the Circuit Court be affirmed.