Fry v. Layton

Appellant was in the small loan business in the City of Laurel. Appellee, for one dollar paid to each, purchased from eighteen borrowers from appellant, notes such borrowers had supposedly paid to appellant, with the rights of such borrowérs growing out of these loans. Appellee, as such assignee, sued appellant in the circuit court for the principal and interest of these notes, and also of two notes he had paid appellant, all aggregating the sum of $1,877.25, on the ground appellant had collected more than twenty per cent, interest on these loans. The lower court granted a peremptory…