Haley v. Covington
Court of Appeals of Georgia
Complaint; from city court of Cartersville—Judge Moon. July 27, 1916.
1Opinion of the Court
.Broyles, P. J.
1. The reserving of interest in advance at- the highest legal rate on a loan, whether it be a short or a long term loan, is usurious. Loganville Banking Co. v. Forrester, 143 Ga. 302 (84 S. E. 961, L. R. A. 1915D, 1195) ; Reese v. Bloodworth, 146 Ga. 355 (91 S. E. 120). Where, however, interest on the actual sum loaned is calculated at 8 per cent, from the date,of the loan to its maturity, and the lender then adds the amount of this interest to the sum lent, and places the total amount in the promissory note signed by the borrower as the sum which is to be repaid, and it is…
2Cases cited10 opinions
- Merck v. American Freehold Land Mortgage Co. of London, Ltd.Supreme Court of Georgia · 1887
- Tribble v. AndersonSupreme Court of Georgia · 1879
- Scott v. SaffoldSupreme Court of Georgia · 1867
- Loganville Banking Co. v. ForresterSupreme Court of Georgia · 1915
- Green v. Equitable Mortgage Co.Supreme Court of Georgia · 1899
5 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Pelham Phosphate Co. v. DanielsCourt of Appeals of Georgia · 1918
- Lanier v. Consolidated Loan & Finance Co.Court of Appeals of Georgia · 1933
- Penn Mutual Life Insurance v. MarshallCourt of Appeals of Georgia · 1934
- Frazier v. City Investment Co.Court of Appeals of Georgia · 1930
- Flood v. Empire Investment Co.Court of Appeals of Georgia · 1926
8 more not listed; retrieve them via the Exa API.