by John Marshall Harlan

Name: Koshkonong v. Burton — Opinion of the Court
Author: by John Marshall Harlan

Koshkonong v. Burton — Opinion of the Court

Summary

“Koshkonong v. Burton — Opinion of the Court”, is a work by by John Marshall Harlan. It explores elements such as coupons, bonds and maturity.

Quotes from Koshkonong v. Burton — Opinion of the Court (by John Marshall Harlan)

by John Marshall Harlan, Koshkonong v. Burton — Opinion of the Court

“ If, as contended by plaintiff, the question of limitation is to be determined exclusively by the revision of 1849, if force when the bonds were issued, and if, as is further insisted, an action on municipal bonds and coupons, such as are here in suit, is, within the meaning of that revision, 'founded on contract or liability not under seal,' it is clear that, without reference to the statute of 1872, this action is barred as to all coupons maturing more than six years before its commencement, whether such coupons were separated or not from the bonds to which they were originally attached. ”

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Source: Wikisource

by John Marshall Harlan, Koshkonong v. Burton — Opinion of the Court

“ In this country, where the legislative power is limited by written constitutions, declaratory laws, so far as they operate upon vested rights, can have no legal effect in depriving an individual of his rights, or to change the rule of construction as to a pre-existing law. Courts will treat such laws with all the respect that is due to them as an expression of the opinion of the individual members of the legislature as to what the rule of law previously was. ”

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Source: Wikisource

by John Marshall Harlan, Koshkonong v. Burton — Opinion of the Court

“ We are here met with the argument that the act of 1872, neither in terms nor by necessary implication, applies to any municipal obligations, except those 'payable to bearer, or to some person or bearer, or to the order of some person, or to some person or his order;' whereas, the bonds in suit are payable to the railroad company or its assigns, and the coupons are payable to the holder thereof. ”

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Source: Wikisource

by John Marshall Harlan, Koshkonong v. Burton — Opinion of the Court

“ The contract between the town and the holders of its securities was entered into prior to those enactments, and the rights of the parties must necessarily be determined by the law as it was when the contract was made. It was not within the constitutional power of the legislature to take from the plaintiff his right, whether arising on express or implied contract, to interest upon interest, if, when the coupons were executed and delivered, he, or the then holder thereof, had such right, under the law of the State. ”

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Source: Wikisource

by John Marshall Harlan, Koshkonong v. Burton — Opinion of the Court

“ While that proviso is very obscurely worded, its meaning is, that no action to recover money due upon a municipal bond, coupon, interest-warrant, or written agreement or promise, or upon any instalment of the principal or interest thereof, whether such obligations were issued before or after the passage of the act, should be maintained, unless brought within six years (not from the passage of the act, but) from the time the money sued for became due ”

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Source: Wikisource

by John Marshall Harlan, Koshkonong v. Burton — Opinion of the Court

“ The judgment must be reversed, with directions to enter judgment in behalf of plaintiff for the amount of the bonds, with interest at the stipulated rate, from their maturity until paid (Spener v. Maxfield, 16 Wis. 185; Pruyn v. City of Milwaukee, supra) , and also for the respective amounts of those coupons only which fell due within six years preceding the commencement of this action, with interest thereon at the rate established by the law of the State; and it is
So ordered. ”

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Source: Wikisource

by John Marshall Harlan, Koshkonong v. Burton — Opinion of the Court

“ By the first section of the act of 1868, the legislature assumed to declare what was the true intent and meaning of previous legislation prescribing and limiting the rate of interest. It was said by Chancellor Walworth, in Salters v. ”

by John Marshall Harlan

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