 | Illinois. Supreme Court - Law reports, digests, etc - 1863 - 622 pages
...exceptions, and appeal to this court. MONTENAY & SEARLE, for Appellants. The statute which declares " That no corporation shall hereafter interpose the defense of usury in any action," has no application in this case, and therefore the court below should have overruled each of the appellee's... | |
 | New York (State). Court of Appeals, George Franklin Comstock, Henry Rogers Selden, Francis Kernan, Erasmus Peshine Smith, Joel Tiffany, Edward Jordan Dimock, Samuel Hand, Hiram Edward Sickels, Louis J. Rezzemini, Edmund Hamilton Smith, Edwin Augustus Bedell, Alvah S. Newcomb, James Newton Fiero - Law reports, digests, etc - 1866 - 724 pages
...section, which is the only one necessary to be referred to in these cases, is in these words : " § 1. No corporation shall hereafter interpose the defense of usury in any action." (Sess. Laws 1850, ch. 172, p. 334). Plain as the language of this section may appear to be, it is on... | |
 | Law - 1874 - 436 pages
...retroactive operation and effect. It will be observed that the words used are very comprehensive. " No corporation shall hereafter interpose the defense of usury in any action." The words "any action" necessarily include suits instituted before as well as after the passage of... | |
 | Henry Beadman Bryant, Emerson Elbridge White, Corydon Giles Stowell - Business mathematics - 1872 - 576 pages
...investment? NOTE. —It is manifest that, if a corporation sells in New York its bonds, drawing 1% interest, for less than par value, it is borrowing...similar legal prohibition for a like accommodation. 25. How much must be paid for 12000 US 5-20s, 6 per cent, @ 104, allowing a brokerage of \% ? Gold... | |
 | New York (State). Superior Court (New York), James Clark Spencer, Samuel Jones - Law reports, digests, etc - 1874 - 670 pages
...arises upon the construction of the statute of 1850 (Law* of 1850, ch. 172, p. 334), which provides that '• No corporation shall hereafter interpose the defense of usury in any action." field, by the general term, that the decision in Hungcrford Bank v. Pottsdam & Watertown KK Co., is... | |
 | Illinois - Law - 1874 - 418 pages
...such fractional parts of a month upon the ratio which such number of days shall bear to thirty. § 11. No corporation shall hereafter interpose the defense of usury in any action. § 12. The following acts and! parts of acts are hereby repealed: Chapter fifty-four of the Revised... | |
 | Virginia. Supreme Court of Appeals - Law reports, digests, etc - 1875 - 1070 pages
...by the defendant, other words must be incorporated, into the body of the act so as to make it read, "no corporation shall hereafter interpose the defense of usury in any action upon a contract hereafter made." But clearly the legislature did not intend so to confine the effect... | |
 | Law reports, digests, etc - 1876 - 642 pages
...exception was taken. On May 22, 1873, the Legislature of Virginia enacted (11. Code of 1873, p. 514) that "no corporation shall hereafter interpose the defense of usury in any action ; nor shall any bond, note, debt or contract of such corporation be set aside, impaired or adjudged... | |
 | Isaac Grant Thompson - Law reports, digests, etc - 1876 - 842 pages
...usury applicable to existing contracts and valid. A statute of the State of Virginia which provided that " no corporation shall hereafter interpose the defense of usury in any action, nor shall any bond, etc., of such corporation be set aside, impaired or adjudged invalid by reason... | |
 | Law reports, digests, etc - 1923 - 1092 pages
...But an amendment to the corporation laws of Maryland, which became effective. June 1, 1916, provides: "No corporation shall hereafter Interpose the defense of usury in any action at law or in equity." 4 Code Md. art. 23, § lOOa. A statute substantially identical was enacted in... | |
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No corporation shall hereafter, interpose the defense of usury in any action. The term corporation, as used in this section, shall be construed to include all associations, and joint-stock companies having any of the powers and privileges of corporations... 
