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1352 INTEREST AND USURY. [ART. 49
ARTICLE XLIX.
INTEREST AND USURY.
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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.
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6. Usury no cause of action after
settlement.
7. Legal rate of interest upon money
loaned on chattel mortgages ,
fees for valuation of property,
etc. Penalty for violation.
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1888, art. 49, sec. 1. 1860, art. 95, sec. 1. 1626, 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 Rowlett'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. 1660, art. 95, 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-
ot exchange, promissory note or other negotiable instrument,
where such assignee or endorsee or holder shall have received
the same for a lonaf.de 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. Mon-
tague v. Sewell, 57 Md. 416.
Ibid. sec. 3. 1860, art. 95, 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. Chapline, 1 H & J. 29. Tyson v. Rickhard, 3 H. &,
J. 109. Caton v. Shaw, 2 H. & G. 13. Stockett v. Ellicott, 3 G. & J. 123.
Thomas v. Catherell, 5 G. & J. 23 Duvall v. Farmer's Bank, 7 G. & J. 44.
Sangston v. Maitland, 11 G & J. 286. Fitzhugh v. McPherson, 3 Gill, 406.
Gwynn v. Lee, 9 Gill, 137. Brown v. Waters, 2 Md. Ch. 201. Williams v
Reynolds, 10 Md. 57 Robertson v. Am. Bldg. 10 Md 398. Wilson v.
Russell; 13 Md. 495 Wetter v. Hardesty, 16 Md. 11
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