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Home > Art, Film & Photography > Reports of Cases Argued and Determined in the Supreme Court of the District of Columbia (Volume 2)
Reports of Cases Argued and Determined in the Supreme Court of the District of Columbia (Volume 2)

Reports of Cases Argued and Determined in the Supreme Court of the District of Columbia (Volume 2)


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1877. Excerpt: ... Mulloy vs. talllins Association. WILLIAM A. MULLOY, APPELLANT, vs. FIFTH-WARD BUILDING ASSOCIATION, APPELLEE. In Equity.--No. 4321 I. When a member of a building association obtaios nu advance upon a pledge of bis shares, agreeing to pay a legal interest for its use, and besides to pay two dollars n uiouth on each of his sbares until their whole nominal value has been paid, the contract is lawful, and is not usurious. II. Where fines at the rate of ten per cent, permonth aro imposed upon de fanlt being made in paying the monthly dues, chancery will intcrponc to prohibit the collection of these penalties, and will restrain a sale of real estate by virtue of a deed of trust given to secure the amount advanced, when the account between the parties shows that nothing is owing the society except the fines. STATEMENT OF THE CASE. The coraplain-nt is a member of said Fifth-Ward Building Association, and obtained an advance from the association on the 31st day of March, 1870, amounting to the sum of $895, on ten shares of his stock. And on the 19th of August, in the same year, he received a further advance of $550 on five other shares, and executed the usual deeds of trust to secure the same upon certain pieces of land in the city of Washington. Under the constitution of the society the members pay one dollar per month on each share when there is no advance, and two dollars per month on each share when an advance has been received. If these monthly dues are not paid, a line of ten per cent, a month is imposed, and the profits of tbe associationeonsistof theeartraduesand finesafterdeductingall expenses. The complainant made defanlt in the payment of his monthly dues, and fines were imposed amouuting to $103,67. The complainant, as appears from the anditor's a...


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Product Details
  • ISBN-13: 9781150157295
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 222
  • Spine Width: 12 mm
  • Width: 189 mm
  • ISBN-10: 1150157291
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 404 gr


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