Definition of Usury

In old English law. Interest of money; increase for the loan of money; a reward for the use of money. 2 Bl. Comm. 454. In modern law. Unlawful interest; a premium or compensation paid or stipulated to be paid for the use of money borrowed or returned, beyond the rate of interest established by law. Webster. An unlawful contract upon the loan of money, to receive the same again with exorbitent increase. 4 Bl. Comm. 156. Usury is the reserving and inking, or contracting to reserve and take, either directly or by indirection, a greater sum for the use of money than the lawful interest Code Ga. 1882, § 2051. See Henry v. Bank of Salina, 5 Hill (N. Y.) 528; Parham v. Pulliam, 5 Co.ld. (Tenn.) 501; New England Mortg. Sec. Co. v. Gay (C. C.) 33 Fed. 640; Lee v. Peckham, 17 Wis. 386; Rosenstein v. Fox, 150 N. Y. 354, 44 N. E. 1027.