Koshkonong v. Burton - 104 U.S. 668 (1881)
U.S. Supreme Court
Koshkonong v. Burton, 104 U.S. 668 (1881)
Koshkonong v. Burton
104 U.S. 668
1. The statute of limitations of Wisconsin applies to the coupons of a municipal bond, whether they be detached from it or not, and begins to run from the time they respectively mature.
2. The legislature has the constitutional power to provide that existing causes of action shall be barred unless, within a shorter period than that prescribed when they arose, suits to enforce them be brought if a reasonable time is given by the new law before the bar takes effect.
3. The right to interest upon interest, whether arising upon an express or an implied agreement, if allowed by the statutes then in force, cannot be impaired by subsequent legislation declaring their true intent and meaning. Such legislation can only be applied to future transactions.
The facts are stated in the opinion of the Court.