Turner v. B. & L. Ass'n

Citations

• 47 S.C. 397
• 25 S.E. 278
• 1896 S.C. LEXIS 136

Syllabus

<p>1. B. & L. Association — Usury.—Where a bond, taken by a building and loan association, stipulates that the total amount received by the association in payment shall not exceed the amount loaned and eight per cent, interest, it is not usurious.</p> <p>2. MORTGAGE — Usury—REV. STAT., 1391. — A party buying property under mortgage, -which he pays as part of the purchase money, may bring an action against the mortgagee to recover any usurious interest paid by him on such mortgage. Mr. Chief Justice McIver dissents.</p>