Bynum v. . Rogers
Supreme Court of North Carolina
Debt on a BOND, tried before SauNdees, Judge, at the Spring Term, 1857, of Chatham Superior Court. Pleas “ general issue” and “ usury.”
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Debt on a BOND, tried before SauNdees, Judge, at the Spring Term, 1857, of Chatham Superior Court. Pleas “ general issue” and “ usury.” The subscribing witness having proved the execution of the bond declared on, stated that the obligor, Murchison, requested him to take it to the defendant Eogers, to whom it was made payable, and get him to endorse it, and then to dispose of it on the best terms he could; that the defendant Murchison, had a considerable amount of money to raise by Chatham Court, then to come on in a few weeks, and that this bond was made for the purpose of borrowing money for…
1Opinion of the CourtNash, C. J.
The question presented is one of alleged" usury. Repeated attempts have been made, in this State, to induce the Legislature to repeal, or modify the law concerning usury, and which have as often failed. It is, therefore, the established policy of the State, to retain the law forbid-ing the taking of usury, and though the act is a penal one, it is the duty of the judiciary to enforce it, in all cases, where the law applies, and as far as they can, to defeat every effort to evade it. The practice most frequently resorted to, to evade it, is that of sales, or pretended sales, of notes and other…
2Cited by8 opinions
- Western Auto Supply Co. v. VickSupreme Court of North Carolina · 1981
- Associated Stores, Inc. v. Industrial Loan & Investment Co.District Court, E.D. North Carolina · 1962
- Sedbury v. . DuffySupreme Court of North Carolina · 1912
- Sedbury v. DuffySupreme Court of North Carolina · 1912
- Owens v. WrightSupreme Court of North Carolina · 1912
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