Sanford v. Anchor Loan Co.

The plaintiff in error herein sued the defendant in error, Anchor Loan Company, a corporation, for usury. The case was tried on an agreed statement of facts, the substance of which was as follows : Sanford borrowed $300 from the loan company for six months, .at the end of which time he paid the $300 principal, and $80 interest. Shortly thereafter Sanford borrowed $50 from the defendant loan company, and agreed to pay as interest on this indebtedness the sum of $5 for the use ofi the money for 30 days. At the time he obtained the last, loan, he executed a release, releasing the loan company…