Hailes v. Hynson

Citations

• 12 Teiss. 327
• 1915 La. App. LEXIS 62

Syllabus

<p>Syllabus.</p> <p>The owner of a promissory note has the right to collect the whole amount of the note notwithstanding such note does include a greater rate of interest than eight per cent per annum, provided such note does not bear more than eight per cent per annum interest after maturity until paid.</p> <p>He may also receive an additional twenty per cent stipulated in such note for attorney’s fees in case the note is placed in the hands of an attorney for collection.</p> <p>Such a stipulation is not usurious for two reasons; first, because it is not made as a consideration for the use of money, and second, because it does not enure to the benefit of the lender.</p>