Industrial Loan & Investment Co. v. Senseney

DREW, Judge.

Plaintiff, who was operating a business under Act No. 7 of the Extra Session of 1928, commonly known as the “Small Loan Act,” instituted this suit against the defendants on a promissory note for $300, bearing interest at the rate of 3⅛ per cent, per month, and providing for 20 per cent, attorney’s fees if placed in the hands of an attorney for collection.

Defendants filed an exception of no cause of action based on the contention that the note was null and void and uncollectable, for the reason that it provided for attorney’s fees in addition to the 3 ⅛ per cent, interest per…