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PREYER v. PARKER

No. 601.

125 S.E.2d 916 (1962)

257 N.C. 440

Fred L. PREYER and G. Allen Mebane v. J. D. PARKER and wife, Helen H. Parker.

Supreme Court of North Carolina.

June 15, 1962.

Attorney(s) appearing for the Case

Smith, Moore, Smith, Schell & Hunter and Richmond G. Bernhardt, Jr., Greensboro, for plaintiff appellants.

Bailey & Bailey, Plymouth, for defendant appellees.

SHARP, Justice.

The sole question presented by this appeal is whether the plaintiffs' evidence establishes as a matter of law that the contract upon which they sued was a usurious transaction.

"In order to constitute a usurious transaction, four requisites must appear: (1) There must be a loan express or implied; (2) an understanding between the parties that the money lent shall be returned; (3) that for such loan a greater rate of

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