How can a loan of US$300 give you US$22.7 million !!!

[directfiesta]

well, time can do that ...

Tampa, FL (AHN) - A 77-year-old woman filed a $22.7 million lawsuit against the city of Tampa for not paying back a loan given by her great-grandmother during the Civil War.

Joan Kennedy Biddle, said that her ancestor Thomas Pugh Kennedy loaned the city $300, and in return received a promissory note, with the city promising to give the money back. The note was dated June 21, 1861.

"This thing has been in the family since the date of the note, and it has never been repaid," Biddle told Fox News. "My daddy told me, and I certainly believe him."

David Smith, the city attorney, said that the claim would not be considered valid in court. Biddle's attorney, however, fired back that the note was issued during a time when the state had no statutes on the note.

According to the UPI, the suit is seeking the total amount of the loan, plus an annual interest of 8 percent.

The case was filed at the city's Hillsborough Circuit Court.

gotta love the lawyers ....

[who]

U.S.A. is retarded.

[BradM]

I see no problem with this lawsuit.

[baddog]

Being a direct descendant of William Penn, and as he only leased the land known as PA to the US for 99 years, I hope she wins.

[Multimedia]

Interesting case. She waiting a long time to collect on this one.

[Drake]

Without knowing any further details, it seems to me that she has a wholly valid claim. Compounded interest on a loan over more than a 100 years adds up.

[After Shock Media]

Originally Posted by Mike33

Without knowing any further details, it seems to me that she has a wholly valid claim. Compounded interest on a loan over more than a 100 years adds up.

Well it may have been written before statues came into play, though did it also mention an interest rate or has that been assumed?
Was the interest spelled out, was a rate given, was it yearly, monthly weekly, and was it compounded? You can not just admend such things and then say but ya the statutes of limitations had not been written yet so that does not apply.

Toss this fucker and kick her in the vagina for wasting the states time and money.

[Fap]

haha thats awesome

[u-Bob]

hehe, gotta love that

[VeriSexy]

Wonder how this pans out

[tiger]

What a bunch of horse shit.

[zabijaq]

My ancestor was Big 'O Siux, I want half of Amerigga. If possible, I want guantanamo also for paintball exercise.

[collegeboobies]

Originally Posted by After Shock Media

Well it may have been written before statues came into play, though did it also mention an interest rate or has that been assumed?
Was the interest spelled out, was a rate given, was it yearly, monthly weekly, and was it compounded? You can not just admend such things and then say but ya the statutes of limitations had not been written yet so that does not apply.

Toss this fucker and kick her in the vagina for wasting the states time and money.

There is legal precedent for adding interest to old debts. There is no legal precedent for kicking her in the vagina.

[Spunky]

Go granny go..hope she collects

[DaddyHalbucks]

If she makes money with this, look for a run on old notes as more people seek to cash in on this idea.

[IllTestYourGirls]

if you dont pay your taxes what is the yearly penalty? I hope she wins.

[JFK]

Originally Posted by baddog

Being a direct descendant of William Penn, and as he only leased the land known as PA to the US for 99 years, I hope she wins.

Right on

[tony286]

Originally Posted by baddog

Being a direct descendant of William Penn, and as he only leased the land known as PA to the US for 99 years, I hope she wins.

You are thats very cool.

[tony286]

also if it was with the confederates, since that government doesnt exist she cant sue I would think.

[baddog]

Originally Posted by tony404

You are thats very cool.

Almost as far back as I can remember, my grandmother was telling me the story about the attorney that contacted my grandfather and notifying him.

Shortly afterwards he died (was like 33) so my grandmother had other things to worry about.

She always told me she wanted me to go for it and all she wanted was Pittsburgh (it was profitable back then).

After she died I happened to meet the Secretary of State for PA at a function. She was very amicable until I asked her how I would go about getting a copy of the lease.

[baddog]

Originally Posted by tony404

also if it was with the confederates, since that government doesnt exist she cant sue I would think.

That was actually the first thing that came to mind. The only thing is, she is suing the "city" not the state or feds.

[Boozer]

$300 in 1861 was surely a good chunk of money

[GrouchyAdmin]

All I need to do is wait 147 years and use compound interest, when even the currency for that time is no longer accepted? AWESOME!

It'll be dropped, or repaid at a much, much, much lower rate.

Given that the flippant bitch said: "Obviously we came at a bad time because the city seems like they're trying to cut their budget," she said. "On the other hand, they're building the Riverwalk.", I hope she gets nothing just because she seems like the type of person I dislike.

[After Shock Media]

Originally Posted by collegeboobies

There is legal precedent for adding interest to old debts. There is no legal precedent for kicking her in the vagina.

Never to late to make one. Hell it would stop a lot of fucking stupid ass money grab lawsuits.

Hell what about mitigating damages, she could of easily cashed this in decades ago to prevent it from growing so large.

[baddog]

Originally Posted by After Shock Media

Hell what about mitigating damages, she could of easily cashed this in decades ago to prevent it from growing so large.

I have a feeling it was the city's flaunting of obviously having cash to burn (building the Riverwalk) that caused her to say, "what the heck. Time to cash it in."