Planters National Bank of Virginia v. Wysong & Miles Co.
Supreme Court of North Carolina
ActioN tried before Lane, J., at February Term, 1919, of GtotlfoRD. The action was brought by the plaintiff, a national bank, to recover of tbe defendants the amount of three promissory notes aggregating ten thousand three hundred and forty-nine and fifty-four hundredths dollars ($10,349.54), one dated 10 September, 1917, for four thousand three hundred and forty-nine and fifty-four hundredths dollars ($4,349.54), and due on 15 January, 1918; another dated 24 September,…
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ActioN tried before Lane, J., at February Term, 1919, of GtotlfoRD. The action was brought by the plaintiff, a national bank, to recover of tbe defendants the amount of three promissory notes aggregating ten thousand three hundred and forty-nine and fifty-four hundredths dollars ($10,349.54), one dated 10 September, 1917, for four thousand three hundred and forty-nine and fifty-four hundredths dollars ($4,349.54), and due on 15 January, 1918; another dated 24 September, 1917, for one thousand dollars ($1,000), due 15 January, 1918; and a third, 8 October, 1917, for five thousand dollars…
1Opinion of the Court
Walker, J.,
after stating the case: There are three principal questions raised in this case: (1) Was there usury? (2) If so, can it be recovered by way of counterclaim? (3) Is the action barred by the statute ?
1. If a bank loans two thousand dollars at 6 per-cent interest, with the understanding and agreement that it shall retain five hundred dollars of the amount -as a deposit of the borrower in the bank, which shall not be subject to his check or his withdrawal of it, but remain on general deposit under control of the bank, it is evident that the bank is charging and receiving 7% per cent…
2Cases cited28 opinions
- Farmers' & Mechanics' National Bank v. DearingSupreme Court of the United States · 1875
- First Nat. Bank of Charlotte v. MorganSupreme Court of the United States · 1889
- Barnet v. National BankSupreme Court of the United States · 1879
- Clark v. City of Des MoinesSupreme Court of Iowa · 1865
- Driesbach v. National BankSupreme Court of the United States · 1881
23 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Kessing v. National Mortgage CorporationSupreme Court of North Carolina · 1971
- Henderson v. SECURITY MORTAGAGE AND FINANCE CO.Supreme Court of North Carolina · 1968
- Ripple v. Mortgage & Acceptance Corp.Supreme Court of North Carolina · 1927
- Manufacturing Co. v. . Building Co.Supreme Court of North Carolina · 1919
- American Timber & Trading Co. v. First National BankCourt of Appeals for the Ninth Circuit · 1982
24 more not listed; retrieve them via the Exa API.