Bauer v. Wade

Hart, J.,

(after stating the facts). Article 19, § 13, of our 'Constitution provides that all contracts for a greater rate of interest than 10 per cent, per annum shall be void as to principal and interest, and that the General Assembly shall prohibit the same by law. In construing this section of the Constitution and the statutes passed pursuant to its directions, it had been held that a mutual agreement to give and receive unlawful interest is not necessary to constitute usury, but that there must have been an intention on the part of the lender to take or receive more than the legal rate of…