Wall v. Lewis

Atkinson, Presiding Justice.

The Court of Appeals propounded for decision by this court the question, “in view of” the provisions of the Code, §§ 57-101 and 57-117, “is a regularly licensed pawnbroker, who advances or lends money on personal property which is taken into his actual physical possession and stored by him, authorized by law to charge interest, on the money so advanced or lent, at a rate of five per centum per month?” The Code, § 57-101, declares, in part: The legal rate of interest shall be seven per centum per annum, where the rate is not named in the contract, and any higher…