West v. Dorsey

Birdsong, Judge.

In 1973, the Wests lent the Dorseys $9,700 at 9 % interest per annum. The loan was secured by second security deeds. The Dorseys made some payments on the loan and then defaulted.

Subsequent developments in the case are set forth in West v. Dorsey, 248 Ga. 790 (285 SE2d 703); Dorsey v. West, 161 Ga. App. 253 (289 SE2d 827); Dorsey v. West, 159 Ga. App. 274 (283 SE2d 314). The gist of those proceedings is that because the Wests had charged 9% interest at a time when maximum allowable simple interest rate was 8 %, the loan was usurious. The penalty extracted from the Wests for…