Reynolds v. Succession of Williams

The seminal legal principle involved in this ease is that any contract for the payment of interest in excess of that authorized by law results in the forfeiture of the entire interest so contracted. LSA-R.S. 9:3501. Further, all sums collected as interest after maturity in excess of that allowed by law are usurious and are forfeited. Paulat v. Pirello, 353 So.2d 1307 (La.1977).

I am unaware that there is any contention that the instant payments were made subsequent to maturity. Therefore, the heart of cause the lender showed the borrower the ledger sheets upon which the lender had improperly…