Case Name: William Chastain v. Jacob M. Johnson, Adm'or. of Isaac Johnson
Court: South Carolina Court of Appeals
Jurisdiction: South Carolina
Decision Date: 1832-01
Citations: 2 Bail. 574
Docket Number: 
Parties: William Chastain v. Jacob M. Johnson, Adm’or. of Isaac Johnson.
Judges: Johnson, J. concurred.
Reporter: South Carolina Law Reports
Volume: 18
Pages: 574–574

Head Matter:
William Chastain v. Jacob M. Johnson, Adm’or. of Isaac Johnson.
The plaintiff sold a parcel of cotton to the defendant’s intestate, on a credit, and took his note for the amount; but surrendered it, when it came to maturity, on receiving a new note for the amount of the debt, with the addition of an usurious interest, for which he stipulated as the consideration of further indulgence : and in an action against the defendant, on the new note, was defeated upon the plea of usury. Held, that he was nevertheless intitled to recover in a new action for the price of the cotton.
Taking the note of the debtor for a pre-existing debt, is not a payment of the latter, unless there be a special agreement, that it shall be thereby extinguished, or unless the creditor parts with the note, vide 5 Johns. 72. 8 Id. 389. 1 M’C. 449.
A subsequent agreement to pay an usurious interest will not avoid a contractwhichwas legal in its inception. Bac. Abr. Usury, (E.) 1 Esp. Rep.274, 1 East, 92.

Opinion:
Per O'Neall, J.
affirming the decree of Mr. Justice Martin, at Abbeville, Fall Term, 1831.
Johnson, J. concurred.