Coble v. Shoffner
Supreme Court of North Carolina
Civil ActioN upon a bond, tried before Kerr, J., at Spring Term, 1876, of Alamance Superior Court. The defendants relied upon the plea of usury, the bond bearing interest at 8 per cent, upon its face, and not setting forth that the consideration thereof was money loaned. The Court rendered judgment in favor of the plaintiff for the amount of the bond, with interest from the date of the judgment until paid. From this judgment the plaintiff appealed.
1Opinion of the CourtBynum, J.
The action is on a bond wherein eight per cent, is named as the rate of interest, but it is not expressed to be given for the loan of money as the consideration of the bond. We are to assume, therefore, that the bond was not executed for money loaned. The question is, does the penalty prescribed in the Act of 1866, Battle’s Revisal, chap. 114, apply to this case ? That Act provides :
1. That the legal rate of interest upon all sums of money *43where interest is allowed, shall be six per cent, per annum for such time as interest may accrue.
2. That for the loan of money, but upon no other account,…
2Cited by19 opinions
- Hughes v. . BooneSupreme Court of North Carolina · 1889
- Kidder v. . McIlhennySupreme Court of North Carolina · 1879
- Skinner v. ThomasSupreme Court of North Carolina · 1916
- Whitfield v. Garris.Supreme Court of North Carolina · 1902
- Hines v. Wilmington & Weldon RailroadSupreme Court of North Carolina · 1886
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