Jones v. Barco, Inc.

Brailsford, Justice.

This action arises out of an allegedly usurious note executed and delivered by Leroy and Vivian Jones to Barco, Inc. and assigned by Barco to North American Acceptance Corporation. The note is in the face amount of $3,247.28 and is secured by a mortgage of real estate. According to the complaint, Barco, acting as agent for or in conspiracy with North American, exacted usurious charges of $1,397.28 from the plaintiffs when the loan was closed. The complaint seeks to recover as the statutory penalty for usury an amount exceding the balance due on the note and actual and…