A Treatise On Bills of Exchange And Promissory Notes
A Treatise On Bills of Exchange And Promissory Notes
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Taney in these words : " Unquestionably it must be the law of the state where the agreement was made, and the instrument taken to secure its performance. A contract of this kind cannot stand on the same principles with a bona fide agreement made in one place, to be executed in another. In the last mentioned cases the agreements were permitted by the lex loci contractus ; and *will even be enforced there, if the party is found within its juris- diction. But the same rule cannot be applied to con...tracts forbidden by its laws and designed to evade them. In such cases, the legal consequences of such an agreement must be decided by the law of the place where the contract was made. If void there, it is void everywhere. " 1 Where a contract is made in one country, to be executed in another, as where a promissory note is made in Lower Canada for the payment of money in England, with interest till paid, the rate of interest at the place of payment is payable thereon. 8 This assumes that the law of the place of performance is the criterion by which the contract is to be interpreted ; and it is conceded that the parties may stipulate for a higher rate of interest than that allowed at the place where the contract is made, not exceed- ing the rate of interest permitted in the state where it is to be carried into execution.
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To quickly assess the difficulty of the text, read a short excerpt:
Taney in these words : " Unquestionably it must be the law of the state where the agreement was made, and the instrument taken to secure its performance. A contract of this kind cannot stand on the same principles with a bona fide agreement made in one place, to be executed in another. In the last mentioned cases the agreements were permitted by the lex loci contractus ; and *will even be enforced there, if the party is found within its juris- diction. But the same rule cannot be applied to con...tracts forbidden by its laws and designed to evade them. In such cases, the legal consequences of such an agreement must be decided by the law of the place where the contract was made. If void there, it is void everywhere. " 1 Where a contract is made in one country, to be executed in another, as where a promissory note is made in Lower Canada for the payment of money in England, with interest till paid, the rate of interest at the place of payment is payable thereon. 8 This assumes that the law of the place of performance is the criterion by which the contract is to be interpreted ; and it is conceded that the parties may stipulate for a higher rate of interest than that allowed at the place where the contract is made, not exceed- ing the rate of interest permitted in the state where it is to be carried into execution.
What to read after A Treatise On Bills of Exchange And Promissory Notes?
You can find similar books in the "Read Also" column, or choose other free books by Isaac Edwards to read onlineMoreLess
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