Legal Opinion
Merritt v. Knox
Court of Appeals of North Carolina
Decided June 20, 1989No. 8810SC815PublishedCited by 7 opinions
1Opinion of the Court
PARKER, Judge.
Defendants appeal from the entry of summary judgment for plaintiffs in their action to recover the amount due on a promissory note. Defendants do not contest their liability on the note. They contend that the trial court erred in enforcing the 12% interest rate provided in the note because the rate was usurious under the law in effect at the time the note was executed.
Defendants executed the note on 14 December 1977. The principal amount of the note was $20,000, it was due and payable one year from the date of execution, and it provided for interest at the rate of 12% per annum…
2Cases cited9 opinions
- Kessing v. National Mortgage CorporationSupreme Court of North Carolina · 1971
- Gore v. George J. Ball, IncorporatedSupreme Court of North Carolina · 1971
- Equal Employment Opportunity Commission v. Liggett & Myers Incorporated, Equal Employment Opportunity Commission v. Liggett & Myers IncorporatedCourt of Appeals for the Fourth Circuit · 1982
- Craftique, Inc. v. Stevens and Co., Inc.Supreme Court of North Carolina · 1988
- Rachlin & Co. v. Tra-Mar, Inc.Appellate Division of the Supreme Court of the State of New York · 1970
4 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Shepard v. Ocwen Federal Bank, FSBCourt of Appeals of North Carolina · 2005
- Faircloth v. National Home Loan Corp.District Court, M.D. North Carolina · 2003
- Adams v. Beard Development Corp.Court of Appeals of North Carolina · 1994
- McClendon v. Walter Home Mortgage (In re McClendon)United States Bankruptcy Court, E.D. North Carolina · 2013
- Shepard v. Ocwen Federal Bank, FSBCourt of Appeals of North Carolina · 2005
2 more not listed; retrieve them via the Exa API.