I think this is absolute bs...my opinion only. Sounds like somebody just trying to get rich the quick and easy way.
The great-granddaughter of a Civil War-era storekeeper in Tampa, Fla. is suing the city for a 147-year-old unpaid promissory note. With interest, the note is now worth over $22 million.
The financially-strapped city of Tampa, in need of ammunition during the Civil War, issued the note to Thomas Pugh Kennedy on June 21, 1861, the St. Petersburg Times reported Sunday. Kennedy's great-granddaughter, Joan Kennedy Biddle and her family are suing to collect the payment, plus 8 percent annual interest.
"This thing has been in the family since the date on the note, and it has never been repaid," Biddle, 77, told the Times. "My daddy told me, and I certainly believe him." more: http://www.foxnews.com/story/0,2933,338569,00.html
Well, they have had his money all this time. **shrugs** Too bad it didn't have a maturity date for the interest to stop accruing. I foresee a long legal battle with her dying before it's settled.
Legally though, was it repayable only to the owner? That could be the "out" for FL.
could pay her in confederate money...
Just saw something very similiar in the state of RI although it was issued in order to buy I think a state park & was for I think $1,000, the person who bought it at a yard sale donated it to a charity as it now has a present value of $25,000. The man bought the note for $1.50 at the yard sale. It cost him $1.50 & he now has a tax write off for the present value, so he does have the potential to financially benefit as well.
Well all I can say is Good Luck to this family*. This is just too funny.
Or they could make a payment plan to pay a portion each year over the next 147 years.
All opinions posted by me, are mine, and in no way , are they to be interpreted as FACT, unless I provide a LINK.
If you follow the link to the Tampa Bay Times( at the bottom of the FOX article ), it gives the exact amount and the date that the promissory note was written.
"So it issued a promissory note for $299.58 to storekeeper Thomas Pugh Kennedy on June 21, 1861."
$300 with a whole lot of money in 1861. I can imagine that this might've created quite a financial hardship for the store owner. After all he had to pay for the guns himself before he sold them to the city of Tampa.
You'd think by the age of 77, you'd mellow out a little bit.
Sadly, this woman seems to have become a shriveled up, materialistic, old hag.
I wonder how anyone knows that it wasn't paid?
"Crack up the music and dance!"
Well if it was paid then it should have been taken back or have paid in full written on it.
Rest in Peace
Joey, Summer, Gianni & Joseph Mateo