Ford v. Vicksburg Waterworks Co.

Citations

• 102 Miss. 717
• 59 So. 880

Syllabus

<p>1. Water Companies. Charges. Penalties. Forfeiture of interest. Code 1906, section 2678. XSsury.</p> <p>A water company furnishing water to the public has no power to enforce a rule that, if the bills for water furnished during a month .are not paid by a certain day of the next month, ten per cent shall be added thereto, as the only damage which the law contemplates that a creditor will suffer by reason of the mere withholding of money due, is legal interest thereon.</p> <p>2. Same.</p> <p>The attempt of a water company to collect ten per cent damages upon overdue bills does not subject the company to a forfeiture of all interest under Code 1906, section 2678, as this, section of the Code covers only two classes of cases; first, where parties contract for a rate of interest in excess of that allowed by law; and second, where the creditor receives a rate.of interest greater than that allowed by law.</p>