Usurious transaction
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 223 U.S. 493 - McCarthy v. First National Bank · 1912Most cited · 78 citing opinions
when the debtor actually makes a payment, as interest, and the bank knowingly receives and appropriates it as such, the usurious transaction is complete, the right of the one and the liability of the other is fixed, the cause of action arises, and the statute of limitations begins to run.