Bass v. Patterson

Citations

• 68 Miss. 310

Syllabus

<p>1. Usury. Code 1880, § 1141. Credit sale of goods. Increased price.</p> <p>Under § 1141, code 1880, -which declares that if a greater rate of interest than 10 per cent, shall he stipulated for, all interest shall be forfeited, a contract for the sale of goods to be paid for in thirty days at a certain price is not usurious because of an agreement at the time of sale that if payment is not made within thirty days, the price shall be 15 per cent, additional.</p> <p>2. Same. Purpose to evade statute. Intent.</p> <p>But where the sale is in fact at an agreed cash price, and the form of a sale on credit is resorted to for the purpose of erading the statute, such transaction is usurious. It is a question of intention.</p>