52 Ga. App. 693 | Ga. Ct. App. | 1935
On January 31, 1918, Mrs. Annie Newberry, executed a note for $1100, payable to J. A. Hightower. The note was due January 1, 1919. It recited a charge of 8 per cent, interest per annum after maturity. Up to February 26, 1931, there had
E. H. Dunn testified for the plaintiff, that he was present on a former trial of the case, whereat Jim Newberry testified that his wife got only $1000, and that he (Newberry) did not know what the $100 in the face of the note was for — he supposed it was for interest. -Plaintiff introduced an excerpt from a brief of the evidence prepared by the plaintiff’s attorney from his recollection in a former trial of the case which brief had been approved and cer
Usury is defined as “the reserving and taking, or contracting to reserve and take, either directly or by indirection, a greater sum for the use of money than the lawful interest.” Code of 1933, § 57-102. It makes no difference that a written promise to pay money is apparently lawful on its face and does not contain any unlawful exaction of money as interest; for the law abhors usury, and will search every fact and circumstance and allow the introduction of parol evidence to test the validity of the real transaction of the parties. McDaniel v. Bank, 22 Ga. App. 223 (95 S. E. 724). “There are four requisites of every usurious transaction. (1) A loan or forbearance of money, either express or implied. (2) Upon an understanding that the principal shall or may be returned. (3) And that for such loan or forbearance a greater profit than is authorized by law shall be paid or is agreed to be paid. (4) That the contract was made with an intent to violate the law.” Bank of Lumpkin v. Farmers State Bank, 161 Ga. 801, 810 (132 S. E. 221). In determining the case at bar it is necessary to apply the evidence to the .third essential point stated above; that is to say, it is necessary to decide whether the evidence disclosed that for the loan a greater profit than is authorized by law was paid or agreed to be paid. The burden was on the defendant to establish her plea of usury. Finney v. Equitable Mortgage Co., 111 Ga. 108 (36 S. E. 461); Harvard v. Davis, 145 Ga. 580 (89 S. E. 740); Fulwood v. Leitch, 7 Ga. App. 359 (66 S. E. 987). It was said, in Equitable Mortgage Co. v. Watson, 116 Ga. 679 (43 S. E. 49), that the “evidence must show with certainty that the transaction was tainted with usury.” See also Equitable Mortgage Co. v. Watson, 119 Ga. 280 (46 S. E. 440).
The defendant’s plea and the testimony of her husband both bring out the fact that although she executed the note for $1100, she received only $1000. The note was for a little less than a year, and of course it was infected with usury, if the $100 was reserved as interest. However, as was said in Wilkins v. Gibson, 113 Ga. 31, 53 (38 S. E. 374, 84 Am. St. R. 204), “the mere fact
A further complaint by the plaintiff is that the judge erred in failing to submit to the jury the question whether or not Jim New-berry was acting as agent for his wife in the transaction with the plaintiff’s testate, and therefore whether he was a competent witness. While some facts in evidence might tend to show that he was acting as such (see Sikes v. Sikes, 162 Ga. 302, 133 S. E. 239), yet where there was no request by the plaintiff so to charge.
Judgment affirmed.