FL Woman Sues To Collect On 147 Yr Old Promissory Note

[White Rain]

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

[Taximom]

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.

[Mira]

could pay her in confederate money...

[Taximom]

LOL

Originally Posted by Mira

could pay her in confederate money...

[altruist1000]

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.

[CyberLaw]

Well all I can say is Good Luck to this family*. This is just too funny.

[philamena]

Originally Posted by Mira

could pay her in confederate money...