FL Woman Sues To Collect On 147 Yr Old Promissory Note

Discussion in 'Up to the Minute' started by White Rain, Mar 17, 2008.

  1. White Rain

    White Rain Active Member

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    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
     
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  3. Taximom

    Taximom Former Member

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    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.
     
  4. Mira

    Mira Country Girl

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    could pay her in confederate money...
     
  5. Taximom

    Taximom Former Member

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    LOL :laugh:
     
  6. altruist1000

    altruist1000 New Member

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    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.
     
  7. CyberLaw

    CyberLaw Former Member

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

    philamena Former Member

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    :clap: :crazy:
     
  9. Marg from Oz

    Marg from Oz New Member

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    Or they could make a payment plan to pay a portion each year over the next 147 years.
     
  10. Tulessa

    Tulessa Well-Known Member

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    This reminded me of the Andy Griffith episode. :floorlaugh:
    An old man held a note, but due to it being Confederate money, he couldn't collect.
     
  11. TGIRecovered

    TGIRecovered Active Member

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    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.
     
  12. kline

    kline New Member

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    I was thinking of that episode too.
    I think she should present the note to whoever is handling accounts payable and recievable for the Confederacy these days.
    Show up at one of those Civil War reinactments and make them pass the hat?
     
  13. oh_gal

    oh_gal New Member

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    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.
     
  14. ohiogirl

    ohiogirl New Member

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    I wonder how anyone knows that it wasn't paid?
     
  15. Marg from Oz

    Marg from Oz New Member

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    Well if it was paid then it should have been taken back or have paid in full written on it.
     
  16. panthera

    panthera Retired WS Staff

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    If she is 77 years old, why attempt to collect it now and not years ago if this note has been in the family for 147 years? Did someone just discover it while rummaging through old storage boxes belonging to great-granddaddy???

    :doh:

    MOO
     

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