Moore County, NC - John Seawell v. William Shomberger, 1812

                           From Moore

Action qui tam. In an action to recover the penalty given by the statute
against usury, it is not necessary to show that the principal money has 
been paid. The offense is complete when anything is received for the
forbearance, over and above the rate of 6 per cent per year.

This was an action qui tam, to recover the penalty given by the statute
against usury; and the facts were that one Jabez York was indebted to the
defendant upon a judgment rendered by a justice of the peace, and for
forbearing the payment of the said judgment the defendant accepted and
received from York a sum greater than at the rate of 6 per cent per year.
The principal sum was unpaid when the action was brought, and the question
submitted to this Court was, whether, as the principal sum was not paid,
the defendant was liable for double the amount thereof (the penalty given
by the statute).

Lowrie, J. Our act of Assembly on this subject is copied from 12 Anne, ch.
16, and the construction given to this latter statute ought to be given
to ours. It is laid down by Lord Chief Justice De Grey, in Loyd qui tam
v. Williams, 3 Wills., 261, that "wherever parties make a contract for
moneys or other things, and above the rate of 5 per centum per annum is
received by the lender, the offense against the statute is complete;
and even if the principal money shall never be paid, yet the offense is
committed." Judgment for the plaintiff.


Source:
NC Reports
July Term, 1812
NC Supreme Court
Pg 152

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This file was contributed for use in the USGenWeb Archives by
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