Citation Numbers: 26 S.E. 781, 120 N.C. 286
Judges: FURCHES, J.
Filed Date: 2/5/1897
Status: Precedential
Modified Date: 1/13/2023
It is alleged in the complaint that the plaintiff (287) borrowed of the defendant $1,000, which sum had been paid off and satisfied by plaintiff before the commencement of this action. That defendant charged plaintiff $5 as interest and $12 as dues, to be paid on the last Saturday in each month. That plaintiff continued to pay this interest and these dues, as required by the contract of loans, until 1 July, 1894, when he had paid the defendant $450.60. This left, as defendant contended, the sum of $730.97, which the plaintiff paid to the defendant — making the sum of $181.57 he had paid to defendant for the loan of $1,000 for 14 months and 21 days. Plaintiff then claims that he is entitled to recover of the defendant $363.14 — this being double the amount of interest paid by him to defendant association. To this complaint the defendant demurs. The Court overruled the demurrer, gave judgment for plaintiff, and defendant appealed.
This court has decided that whatever is collected over and above 6 per cent, whether called interest or "dues" is, in fact, interest and usurious.Meroney v. B. L. A.,
The defendant cites Latham v. B. L.,
No error.
Cited: Cheek v. B. and L. Asso.,
Miller v. . Insurance Co. , 118 N.C. 612 ( 1896 )
Latham v. . B. and L. Assn. , 77 N.C. 145 ( 1877 )
Strauss v. . Loan Association , 118 N.C. 556 ( 1896 )
Meroney v. . B. and L. Assn. , 116 N.C. 882 ( 1895 )
Rowland v. . Building Association , 115 N.C. 825 ( 1894 )
Strauss v. . Building and Loan Association , 117 N.C. 308 ( 1895 )
Shepard v. Ocwen Federal Bank, FSB , 361 N.C. 137 ( 2006 )
Swindell v. Federal National Mortgage Ass'n , 330 N.C. 153 ( 1991 )
MacRackan v. . Bank , 164 N.C. 24 ( 1913 )
Turner v. . Boger , 126 N.C. 300 ( 1900 )
Cheek v. . B. L. Association , 126 N.C. 242 ( 1900 )
Shepard v. Ocwen Federal Bank, FSB , 172 N.C. App. 475 ( 2005 )
Smiley v. Citibank (South Dakota), N. A. , 116 S. Ct. 1730 ( 1996 )