McIntosh v. Thomasville Real Estate & Improvement Co.

A suit was filed to recover a specific sum of money. The defendant pleaded payment of a certain sum, alleging that it fully extinguished the principal and lawful interest, and that the difference between the amount paid and that set out in the petition was usury and uncollectible. Whether it was usury depended upon whether the plaintiff was a building and loan association or an association of like character, and was authorized to charge and collect of its borrowers more, in the way of dues and otherwise, than would cover a legal rate of interest. The trial court held that the plaintiff was a…