Bluegrassrivals

he 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."
Tampa City Attorney David Smith told the Times that he doesn't consider the claim valid.
In legal documents, Biddle's attorney argues that the statute of limitations doesn't apply, for at the time the note was issued, the state had no such statute on such documents.



http://www.foxnews.com/story/0,2933,338569,00.html

Here is a copy of the note.

http://www.tampabay.com/news/localgovern...419897.ece

This has been in the family for way too long. No way will the courts make the city of Tampa pay $22 million.

Not a chance of paying $22 million. The note was originally for just under $300. Sounds like another person just trying to get a cheap buck. I wasn't able to actually read the note, but does it say anything concerned interest? 8% per year?

I'd say she'll be lucky to get $1000 out of it.

My point is simple. If she owed the feds that money, she'd have to pay. I hope she gets a good chunk of change. Maybe not $22m, but I hope she gets a darn good chunk.

TidesHoss32 Wrote:My point is simple. If she owed the feds that money, she'd have to pay. I hope she gets a good chunk of change. Maybe not $22m, but I hope she gets a darn good chunk.

The problem with that is that they intentionally kept it in their family. I'm sure if it were taken to the authorities shortly after the war all would have been paid and nothing would have come of this. Most likely at the time their family decided that the note itself was worth more than the monetary value.

I agree that if you had borrowed from the government, they would want their money back as well, but imagine you take out a Federal Stafford Loan for college and you are unable to repay all but $300 of it by the time of your death. The government wouldn't wait 147 years and then go to your nearest living relative and request $22 million.

Well the thing is that if the town was broke and borrowed the money to get what ever during the war. The may not have had the money after the war and it was just forgot about. Who knows why it was never paid.

You are exactly right..I was saying she shouldnt get $22 million, lol thats absurd. But if money was borrowed then it should be paid back. That was quite a substantial amount of money back then. And if somebody can make the government pay them with interest, then I'll be their number 1 fan ..

Tomcat68 Wrote:The problem with that is that they intentionally kept it in their family. I'm sure if it were taken to the authorities shortly after the war all would have been paid and nothing would have come of this. Most likely at the time their family decided that the note itself was worth more than the monetary value.

I agree that if you had borrowed from the government, they would want their money back as well, but imagine you take out a Federal Stafford Loan for college and you are unable to repay all but $300 of it by the time of your death. The government wouldn't wait 147 years and then go to your nearest living relative and request $22 million.