858 INTEREST AND USURY. [ART. 49.

ARTICLE XLIX.

INTEREST AND USURY.

1. Legal rate of interest. 2. When plea of usury not available. 3. What is usury. 4. Penalty.

5. What plea of usury shall state. 6. Usury no cause of action after set- tlement.

P. G. L., (1860,) art. 95. sec. 1. 1826, ch 99. 1832, ch 152.

1. Interest may be charged or deducted at the rate of six per
centum per annum, and the same may be calculated according to
the standard laid down in Hewlett's tables.

Duvall v. Farmers' Bank, 7 G & J 44. Duncan v. Md Savings Inst, 10 G.
& J. 300. Williar v. Balto. Butchers' Loan & Annuity Asso , 45 Md. 546.

Ibid, sec 2. 1824, ch. 200.

2. No plea of usury shall be available against any legal or
equitable assignee or holder of any bond, bill obligatory, bill of
exchange, promissory note, or other negotiable instrument, where
such assignee or endorsee or holder shall have received the same
for a bona fide and legal consideration, without notice of any
usury in the creation or subsequent assignment thereof.

Burt v. Gwinn, 4 H. & J 507. Sauerwein v. Brunner, 1 H. & G. 477. Cockey
v. Forrest, 3 G & J. 482. Williams v. Reynolds, 10 Md 66 Montague B.
Sewell, 57 Md 416.

Ibid. sec. 3. 1704, ch. 69, sec. 1.

3. If any person shall exact, directly or indirectly, for loan of
any money, goods or chattels, to be paid in money above the value
of six dollars for the forbearance of one hundred dollars for one
year, and so after that rate for a greater or lesser sum, or for a
longer or shorter time, he shall be deemed guilty of usury.

Hogmire's Lessee v. Chopline, 1 H. & J 29. Tyson e Rickard, 3 H & J.
109. Caton v. Shaw, 2 H & G. 13. Stockett e Ellicott, 3 G & J 123. Thomas
v. Catherell, 5 G. & J. 23. Duvall v. Farmers' Bank, 7 G. & J. 44. Sangston v.