Denson v. Peoples Bank

Hutcheson, Justice.

1. In view of the fact that the small-loan act (Ga. L. 1920, pp. 215 et seq.; Code, §§ 25-301 et seq.) is in derogation of the common law and must be strictly construed (Frazier v. City Investment Co., 42 Ga. App. 585, 157 S. E. 102; Lanier v. Consolidated Loan & Finance Co., 47 Ga. App. 148, 170 S. E. 99), and in view of the terms of the statute, we are of the opinion that the portion of the act (Code, § 25-315) which provides that “No licensee shall take any confession of judgment or any power of attorney; nor shall he take any note, promise to pay, or security that does…