Briggs v. Industrial Bank of Richmond

If a note secured by a mortgage or deed of trust is tainted with usury, can the makers thereof have the usurious element adjudged a cloud upon the title and removed under the provisions of C. S., 1743 ?

The remedy prescribed by law for usurious transactions is thus stated in Ripple v. Mortgage Corp., 193 N. C., 422, 137 S. E., 156. “In North Carolina the penalty, as prescribed by statute, for taking, receiving, reserving, or charging for the use of money a sum in excess of interest at the legal rate is forfeiture of the entire interest which the note or other evidence of debt carries with it,…