In Andrews v. Pond (1839) 38 U.S. 65, the Supreme Court said that: "The general principle in relation to contracts made in one place, to be executed in another, is well settled. They are to be governed by the law of the place of performance, and if the interest allowed by the laws of the place of performance is higher than that permitted at the place of the contract, the parties may stipulate for the higher interest, without incurring the penalties of usury." The Court also said that a person who takes a bill, which upon the face of it was dishonored, cannot be allowed to claim the privileges which belong to a bona fide holder without notice.