Patterson v. J. W. McClintock, Inc.

The court below found that Patterson had contracted to pay McClintock interest at a rate greater than eight, but less than twenty percent, annually, and that Patterson was liable for the principal of, but not the interest on, the debt. Section 36, Code 1942. Patterson now contends on his direct appeal that the chancellor erred in not finding that the rate of interest exceeded twenty percent and in not also forfeiting the principal of the debt.

The question presented to us is whether the evidence justified the chancellor’s finding of fact and his conclusion of law. The dealings between these…