PETERSON v. NEWTON

58393.

151 Ga. App. 852 (1979)

261 S.E.2d 763

PETERSON v. NEWTON.

Court of Appeals of Georgia.

Decided October 19, 1979.


Attorney(s) appearing for the Case

Thomas S. Jefferson, for appellant.

John C. Heath, for appellee.


BANKE, Judge.

The appellee was awarded judgment against the appellant on a promissory note in the amount of $975 principal, $30 interest, and $122.50 attorney fees. The sole issue on appeal is whether the $30 interest charge was usurious. We shall resist the temptation to call this a matter of principle.

The note specified an interest rate of 9.5% per annum. Under the general usury statute in effect at the time, the maximum interest charge allowable was 9...

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