Interstate B. & L. Ass'n v. Powell

Citations

• 55 S.C. 316
• 33 S.E. 355
• 1899 S.C. LEXIS 92

Syllabus

<p>1. Usury. — The Act of 1898, 22 Stat., 747, relating to construction of ■ contracts secured by mortgage of real estate, does not apply to contracts executed before its enactment. Tobin v. McNab, S3 S. C., 73, followed.</p> <p>2. Ibid. — B. & L. Assn. — A Contract upon which eight per cent, only is charged, payer being given credit for all payments on dues, interest, and premiums, is not usurious.</p> <p>3. Ibid. — Foreclosure.—Order requiring deferred payments in foreclosure sale to draw interest at. eight per cent., is not violative of the usury law.</p> <p>4. Interest. — Attorney's Fee provided for in bond should not draw interest before put in judgment.</p>