Case Name: Cobb against Titus
Court: New York Court of Appeals
Jurisdiction: New York
Decision Date: 1854-04-18
Citations: 1 Seld. Notes 225
Docket Number: 
Parties: Cobb against Titus.
Judges: 
Reporter: Selden's Notes of Cases
Volume: 1
Pages: 225–225

Head Matter:
Cobb against Titus.
Exchange of promissory notes.

Opinion:
Where two person exchange notes with each other for equal amounts, for the purpose of raising money by a sale of the notes, each note is a valid consideration for the other, and a sale of either, at a discount greater than seven per cent., does not render it usurious in the hands of the purchaser.
(S. C., 13 Barb. 45; 10 N. Y. 198.)