National Bond & Mortgage Corp. v. Mahanay

LATTIMORE, Justice.

This is on an appeal from a judgment for the'penalties of usury. Mr. Allgood borrowed $3,700 from appellant on November 14, 1927, and executed therefor two notes, one for $740 without interest, payable $20.-57 each month thereafter, and one note for $3,700 with interest at. 6 per cent, per an-num payable in monthly installments thereafter, and the principal payable in monthly installments of $57.06, beginning December 14, 1930. The improvements on the real estate security for the loan were destroyed by tire in November, 1930, at which time the payments on the loan were in…