LIBERTY LOAN CORP. OF LAKE CHARLES, INC. v. STERLING

No. 1916.

195 So.2d 761 (1967)

LIBERTY LOAN CORPORATION OF LAKE CHARLES, INC., Plaintiff and Appellee, v. Filbert STERLING, Defendant and Appellant.

Court of Appeal of Louisiana, Third Circuit.

Rehearing Denied March 8, 1967.

Writ Refused May 4, 1967.


Attorney(s) appearing for the Case

Robert E. Turner, Lake Charles, for defendant-appellant.

Charley Quienalty, Lakes Charles, for plaintiff-appellee.

Before TATE, SAVOY and CULPEPPER, JJ.


CULPEPPER, Judge.

This is a suit on a promissory note which was signed by defendant as an accommodation endorser. From an adverse judgment, defendant appeals.

The issue concerns the special defense that the note is void because the plaintiff collected illegal interest, in violation of the small loan statute, LSA-R.S. 6:583, which reads in pertinent part as follows:

"Every licensee may contract for and receive on any loan of money not exceeding three...

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