Usurious Transaction

1 Elements and Case Citations

1. There must be a loan express or implied;
2. An understanding between the parties that the money lent shall be returned;
3. That for such a loan a greater rate of interest than is allowed by law shall be paid or agreed to be paid, as the case may be; and
4. There must exist a Corrupt intent to take more than the legal rate for the use of the money loaned.

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