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eBook details

• Title: Spring Company v. Knowlton
• Author : United States Supreme Court
• Release Date : January 01, 1880
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 64 KB

Description

a. Where the scheme or contract is malum in se, as in this case, and the parties to it are in pari delicto, the law refuses to aid either against the other. It leaves them where it finds them. This rule applies as fully where money has been paid and applied in part execution or performance, as where the scheme or contract has been completely executed. Smith, Contracts (3d Am. ed.), 187-191; Burt v. Place, 6 Cow. (N. Y.) 431; Nellis v. Clarke, 20 Wend. (N. Y.) 24; S. C. 4 Hill (N. Y.), 424; Smith v. Hubbs, 10 Me. 71; Schermerhorn v. Talman, 14 N. Y. 94, 141; Knowlton v. Congress & Empire Spring Co., 57 N. Y. 518; Howson v. Hancock, 8 T. R. 575. The scheme was, however, actually carried into effect as to the money which the plaintiffs seek to recover. Their intestate had no locus penitentioe as to the dividend of four per cent on the old stock, payable February 20, and amounting exactly to $13,980, the percentage on the new stock, payable at the same time and place. The dividend was then applied to the payment and satisfaction of that percentage which Knowlton was to pay on the new stock.

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