Callaway v. Butler & Stephens

Bleckley, Chief Justice.

This was a proceeding to foreclose a mortgage made by Callaway to Butler & Stephens to secure the paymeiit of several promissory notes made by Wright & Callaway to the mortgagees. Callaway was one of the members of tbe firm of Wright & Callaway. The notes were executed in renewal of other notes, or at least, of other contracts made touching the same debt. Tbe plea relied upon was usury, and the question as to usury arose out of the construction and effect of a “ cotton contract.” That contract was as follows:

“In consideration of the sum of $3,000 advanced to ns by…