Cheek v. Iron Belt B. & L. Ass'n
Supreme Court of North Carolina
Civil AotioN for the purpose (1) of having a deed of trust executed by plaintiff upon real estate declared satisfied; and (2) of recovering double the amount of alleged usury exacted, and paid defendant. The answer denied charging and receiving usurious interest; that it was entitled to< receive 8 per cent interest upon the contract of loan, and contains a-counterclaim for a balance still due, at that rate, from plaintiff.
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Civil AotioN for the purpose (1) of having a deed of trust executed by plaintiff upon real estate declared satisfied; and (2) of recovering double the amount of alleged usury exacted, and paid defendant. The answer denied charging and receiving usurious interest; that it was entitled to< receive 8 per cent interest upon the contract of loan, and contains a-counterclaim for a balance still due, at that rate, from plaintiff. The reply denied owing defendant anything, and alleged that 6 per cent interest was the rate agreed on. ' The cause was submitted to Brown, (jury trial waived) at October…
1Opinion of the Court
Plaintiff's Appeal.
Furches, J.
The answer oí the defendant in paragraph 6 admits that it has charged the plaintiff more than 6 per cent interest; that it has charged him 8 per cent, and that the amount of interest paid by the plaintiff is $79. The defendant insists that under its contract with the plaintiff it had the right to charge him 8 per cent. And this brings us to the only question necessary to be discussed in this appeal.
On the 14th day of April, 1898, the' plaintiff entered into a penal bond in the sum of $2,000, to taha twenty shares of defendant’s stock, of the par value of $100…
Also in this document: Dissent.
2Cases cited3 opinions
- Miller v. Life Insurance Co.Supreme Court of North Carolina · 1896
- Smith v. Old Dominion Building & Loan Ass'nSupreme Court of North Carolina · 1896
- Hollowell v. Southern Building & Loan Ass'nSupreme Court of North Carolina · 1897
3Cited by5 opinions
- Perry v. Southern Surety Co.Supreme Court of North Carolina · 1925
- Lutz v. . HoyleSupreme Court of North Carolina · 1914
- Cheek v. Iron Bert Building & Loan Ass'nSupreme Court of North Carolina · 1900
- Owens v. WrightSupreme Court of North Carolina · 1912
- Whisnant v. . PriceSupreme Court of North Carolina · 1918