Page:United States Statutes at Large Volume 78.djvu/717

 78 STAT.]

PUBLIC LAW 88-509-AUG. 30, 1964

675

§ 28-3102. Intent to defraud purchasers A conveyance of an estate or interest in land, or its rents and profits, and a charge upon the same, made or created with the intent to defraud prior or subsequent purchasers for a valuable consideration of the same lands, rents, or profits, are void, as against the purchasers. Such a conveyance or charge is not deemed fraudulent in favor of a subsequent purchaser who has actual or legal notice thereof at the time of his purchase, unless it appears that the grantee in the conveyance, or the person to be benefited by the charge, was privy to the fraud intended. §28-3103. Fiduciary's suit to vacate fraudulent transaction An executor, administrator, receiver, assignee, or trustee of an estate, or of the property and effects of an insolvent estate, corporation, association, partnership, or individual, may, for the benefit of creditors and others interested in the estate or property so held in trust, disaffirm, treat as void, and resist all acts done, transfers, «nd agreements made in fraud of the rights of a creditor, including themselves and others interested in an estate or property held by or of right belonging to him or the estate. Whoever, in fraud of the rights oi creditors and others receives, takes, or in any manner interferes with the estate, property, or effects of a deceased person or insolvent corporation, association, partnership, or individual is liable, in the proper action, to the executors, administrators, receivers, or trustees of the estate or property for the same, or the value of any property or effects so received or taken, and for all damages caused by such acts to the trust estate. CHAPTER 33—INTEREST AND USURY Sec.

28-3301. 28-3302. 28-3303. 28-3304. 28-3305. 28-3306.

Rate of interest expressed in contract. Rate of interest not expressed and on judgments. Usury defined. Action to recover usury paid. Unlawful interest credited on principal debt. Parties compelled to testify.

§ 28-3301. Rate of interest expressed in contract The parties to an instrument in writing for the payment of money at a future time may contract therein for the payment of interest on the principal amount thereof at any rate not exceeding 8 percent per annum. § 28-3302. Rate of interest not expressed and on judgments The rate of interest in the District upon the loan or forbearance of money, goods, or things in action, and the rate to be allowed in judgments and decrees, in the absence of express contract, is 6 percent per annum. Interest, when authorized by law, on judgments against the District of Columbia, is at the rate of not exceeding 4 percent per annum. § 28-3303. Usury defined If a person or corporation contracts in the District, (1) verbally, to pay a greater rate of interest than 6 percent per annum, or (2) in writing, to pay a greater rate than 8 percent per annum, the creditor shall forfeit the whole of the interest so contracted to be received. This section does not affect sections 26-601 to 26-611.

37 Stat. es?.

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