Maners v. Lexington County Savings & Loan Ass'n

Cox, Acting Associate Justice:

This is an appeal from an Order granting respondent’s motion for summary judgment. We affirm.

In this action appellant seeks recovery of usurious interest pursuant to Section 34-31-50 of the South Carolina Code of Laws (1976). On June 3, 1974, Ted O. McGee Real Estate Company, Inc., (hereinafter McGee) built a house and obtained financing from respondent in the amount of Forty-three Thousand ($43,000.00) Dollars with interest at nine and one-half (9}4) per cent per annum. The loan was secured by a real estate mortgage. On January 27, 1975, appellant contracted to…