Rothstein v. First National Bank

Bowles, Justice.

The First National Bank of Atlanta sued the appellant only on two renewal notes which appellant had signed in the capacity of endorser for the maker Unclaimed Dry Cleaning & Laundry Exchange, Inc. The appellant answered and counterclaimed, alleging fraud and usury; and sought recovery of alleged usurious interest in the previous notes. The counterclaim, as amended, raised a vague constitutional challenge to Code Ann. § 57-118 which prohibits the defense of usury by a profit corporation in this type transaction.

The trial court granted summary judgment in favor of the bank by…