H. Wetter Manufacturing Co. v. Dinkins

Citations

• 70 Miss. 835

Syllabus

<p>I. Assignment for Creditors. Preference. Usurious debt.</p> <p>An assignment for creditors is not rendered invalid by the preference of a creditor whose debt embraces usury, if the amount directed to be paid does not exceed the principal due and legal interest thereon. The assignor may waive his personal privilege under the statute of defeating all interest.</p> <p>2. Same. Preference. Innocent mistake. Interest.</p> <p>If in such case the assignor intends to prefer such debt purged of excessive interest, but, through mistake in computing the amount, fails to eliminate all of the excessive interest (the assignee being directed to pay only the amounts justly due all creditors), the assignment will not be rendered invalid.</p>