First National Bank of Jacksboro v. Lasater

Citations

• 196 U.S. 115
• 25 S. Ct. 206
• 49 L. Ed. 408
• 1905 U.S. LEXIS 882

Syllabus

<p>The payment referred to in § 5198, Rev. Stat. is an actual payment and not a further promise to pay and the mere discharge of the maker of a note by his giving .his own note in renewal thereof will not uphold a recovery against the bank on account of usurious interest in the former note.</p> <p>While a trustee inbankruptcy is not bound to accept property of an onerous or unprofitable character, and in case he declines to take it the bankrupt may assert title thereto, he is entitled to be informed of the property and have a reasonable time to elect whether he will accept it or not.</p> <p>If a claim owned by a bankrupt is of value his creditors are entitled to it, and he cannot, by withholding knowledge of its existence from the trustee, after obtaining a discharge of his debts, immediately assert title to and collect the claim for his own benefit.</p>