Noah Haynes Swayne

“ If payment be not made when the money becomes due, there is a breach of the contract, and the creditor is entitled to damages. Where none has been agreed upon, the law fixes the amount according to the standard applied in all such cases. It is the legal rate of interest where the parties have agreed upon none. If the parties meant that the contract rate should continue, it would have been easy to say so. ”

“ The rate of six per cent per annum is allowed upon all moneys due, where there is no contract upon the subject.
2. Parties may stipulate in writing for ten per cent per annum, or any less rate.
3. If more than ten per cent is taken upon any contract, all the interest received may be recovered back, if it be sued for within a year. ”

“ It prayed that a trustee should be appointed in place of Eaton; that the successor so appointed should be directed to execute the trust; and for general relief. The court below found, among other things, that Holden was indebted to Talbot on the note in the sum of $5,000, 'with interest thereon at the rate of ten per cent per annum from the 13th of April, 1873, less the sum of $75,' and that the Savings and Trust Company had a lien on the debt for $1,500, and interest from April 13, 1875. ”