Johnson v. Utley

Oct 28, 1880
Reporters:
,
Before:
Pryor
JUDGE PRYOR

delivered the opinion op the court.

The forfeiture by the party ‍​‌‌‌​‌​‌​‌‌​​​‌‌‌‌​​‌‌‌‌​‌​‌‌​​​‌‌​‌​‌​‌​‌‌​​‌‌‌‌‌‌‌‌​‌​‌‌​‌‌​​‌​​‌​‌​​​​‌‌​​​‌​​​‌​‌​​​​​‌‌‌​‌‌‍loaning at a greater rate of interest than that provided‘by the General Statutes and the subsequent amendments was in the nature of ‍​‌‌‌​‌​‌​‌‌​​​‌‌‌‌​​‌‌‌‌​‌​‌‌​​​‌‌​‌​‌​‌​‌‌​​‌‌‌‌‌‌‌‌​‌​‌‌​‌‌​​‌​​‌​‌​​​​‌‌​​​‌​​​‌​‌​​​​​‌‌‌​‌‌‍a penalty, and when the section authorizing the forfeiture was repealed by the act of March 2, 1878, there was nothing to ‍​‌‌‌​‌​‌​‌‌​​​‌‌‌‌​​‌‌‌‌​‌​‌‌​​​‌‌​‌​‌​‌​‌‌​​‌‌‌‌‌‌‌‌​‌​‌‌​‌‌​​‌​​‌​‌​​​​‌‌​​​‌​​​‌​‌​​​​​‌‌‌​‌‌‍prevent the obligee from recovering his debt with legal interest.

The legal rate of interest by the act of March 2, 1878, ‍​‌‌‌​‌​‌​‌‌​​​‌‌‌‌​​‌‌‌‌​‌​‌‌​​​‌‌​‌​‌​‌​‌‌​​‌‌‌‌‌‌‌‌​‌​‌‌​‌‌​​‌​​‌​‌​​​​‌‌​​​‌​​​‌​‌​​​​​‌‌‌​‌‌‍is 6 per cent., and the appellant was entitled to recover his debt with that rate of interest. For this reason alone the judgment ‍​‌‌‌​‌​‌​‌‌​​​‌‌‌‌​​‌‌‌‌​‌​‌‌​​​‌‌​‌​‌​‌​‌‌​​‌‌‌‌‌‌‌‌​‌​‌‌​‌‌​​‌​​‌​‌​​​​‌‌​​​‌​​​‌​‌​​​​​‌‌‌​‌‌‍is reversed, and cause remanded, with directions to enter judgment accordingly.