Zachry v. Alexander

1. “No person shall owe any licensee, as such [operating under the small-loan act of Georgia], at any time more than $300 for principal.” Acts 1920; p. 215, § 13; Code, § 25-313. All notes, whether declared on severally or collectively, showing currently a total of indebtedness at any time for principal in excess of $300, irrespective of their dates of execution or the percentum of interest charged within the maximum rate allowed, are void and unenforceable. Hartsfield Co. v. Kitchens, 51 Ga. App. 154 (179 S. E. 920); Hartsfield Co. v. Robertson, 48 Ga. App. 735 (173 S. E. 201).

2. Where a…