Hewitt v. Citizens Sav. Bank & Trust Co.

BLAIR, Justice.

This is a usury suit. It arose out of the following facts: On May 1, 1917, Temple Trust Company made W. P. Hewitt and wife a loan of $5,000, to mature 10 years after date, agreeing that the indebtedness should bear interest at the rate of 7 per cent, per annum, and also agreeing that 1 per cent, of the interest on the loan for a period of 10 years, and amounting to $500, be added to the principal note. The note was accordingly executed for $5,500, and provided for interest at the rate of 6 per cent., payable annually. Hewitt and wife paid the $330 per year as such annual…