Smith v. Old Dominion Building & Loan Ass'n
Supreme Court of North Carolina
Civil aotioN, begun on 21st June, 1S95, and tried before Starbudk, I., at November Term, 1895, of Geanville Superior Court. The purpose of the action was to recover from the defendant twice the amount of interest paid, as provided in Section 3836 of The Code, the plaintiff alleging- usury. The defendant denied each material allegation of the complaint, and also set up the bar of the Statute of Limitations to plaintiffs’ action as contained in said section of The Code.
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Civil aotioN, begun on 21st June, 1S95, and tried before Starbudk, I., at November Term, 1895, of Geanville Superior Court. The purpose of the action was to recover from the defendant twice the amount of interest paid, as provided in Section 3836 of The Code, the plaintiff alleging- usury. The defendant denied each material allegation of the complaint, and also set up the bar of the Statute of Limitations to plaintiffs’ action as contained in said section of The Code. The defendant also asserted a counter claim against plaintiffs, alleging that the latter were indebted to it in the sum of…
1Opinion of the Court
ClaeK, J. :
The Code, Sec. 3836, provides “ The taking, receiving, reserving or charging a greater rate of interest than is allowed by the preceding section (3835) when knowingly done shall be deemed a forfeiture of the entire interest which the note or other evidence of debt carries with it, or which has been agreed to be paid thereon ; and in case a greater interest has been paid, the person by whom it has been paid, or his legal representative, may recover back, in an action of debt, twice the amount of interest paid : Provided such action shall be commenced within two years from the time…
2Cases cited9 opinions
- Fowler v. Equitable Trust Co.Supreme Court of the United States · 1891
- Meroney v. Atlanta Building & Loan Ass'nSupreme Court of North Carolina · 1895
- Hurst, Miller & Co. v. EverettSupreme Court of North Carolina · 1884
- Ward v. . SuggSupreme Court of North Carolina · 1893
- Moore v. . BeamanSupreme Court of North Carolina · 1893
4 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Kessing v. National Mortgage CorporationSupreme Court of North Carolina · 1971
- Swindell v. Federal National Mortgage Ass'nSupreme Court of North Carolina · 1991
- Haanebrink v. MeyerCourt of Appeals of North Carolina · 1980
- Tayloe v. Parker.Supreme Court of North Carolina · 1905
- Ervin v. First National BankSupreme Court of North Carolina · 1912
12 more not listed; retrieve them via the Exa API.