AUSBAND v. WACHOVIA BANK AND TRUST COMPANY, N.A.

No. 7321SC36.

194 S.E.2d 160 (1973)

17 N.C. App. 325

Frank C. AUSBAND and Virginia C. Ausband v. WACHOVIA BANK AND TRUST COMPANY, N.A.

Court of Appeals of North Carolina.

Certiorari Denied April 2, 1973.


Attorney(s) appearing for the Case

Eugene H. Phillips, Winston-Salem, for plaintiff appellants.

Womble, Carlyle, Sandridge & Rice by W. F. Womble, Winston-Salem, for defendant appellee.


Certiorari Denied by Supreme Court April 2, 1973.

VAUGHN, Judge.

The only question presented is whether the trial court erred when it failed to hold that the provision in the forbearance agreement for the payment of 9% per annum interest called for the payment of usury. We hold that it did not.

On 24 March 1969, when the note was executed and was endorsed by Frank C. Ausband and guaranteed by Virginia C. Ausband, the maximum lawful rate of interest...

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