Page:United States Statutes at Large Volume 78.djvu/718

 676

PUBLIC LAW 88-509-AUG. 30, 1964

[78 STAT.

§ 28-3304. Action to recover usury paid If a person or corporation in the District directly or indirectly takes or receive a greater amount of interest than is declared by this chapter to be lawful, whether in advance or not, the person or corporation paying the same may within one year after the date of payment sue for and recover the amount of the unlawful interest so paid. § 28-3305. Unlawful interest credited on principal debt In an action upon a contract for the payment of money with interest at a rate forbidden by law, any payment of interest that may have been made on account of the contract is deemed to be payment made on account of the principal debt; and judgment shall be rendered for no more than the balance found due after deducting and properly crediting the interest so paid. A bona fide indorsee of negotiable paper purchased before due is not affected by any usury exacted by a former holder of the paper unless he had notice of the usury before his purchase. § 28-3306. Parties compelled to testify When in an action to recover a debt the defendant claims that payment of unlawful interest on the debt has been made to the plaintiff or those under whom he claims, which the defendant is entitled to have credited on the principal of the debt, the plaintiff or the party who received the unlawful interest may be examined as a witness to prove the payment, and may not be excused from testifying in relation thereto. A creditor who is made defendant in a proceeding for discovery as to payments of unlawful interest made to him may not be excused from answering.

CHAPTER 35—STATUTE OF FRAUDS Sec. 28-3501. 28-3502. 28-3503. 28-350i.

Estate created otherwise than by deed. Special promise to answer for debt or default of another. Declaration, grant, and assignment of trust. New promise or acknowledgment of contract—Action against joint contractors. 28-35Q5. New promise or aclinowledgment of debt incurred during infancy.

§ 28-3501. Estate created otherwise than by deed An estate, attempted to be created for a greater term than one year in real estate, other than by deed, is an estate by sufferance. §28-3502. Special promise to answer for debt or default of another An action may not be brought to charge an executor or administrator upon a special promise to answer damages out of his own estate, or to charge the defendant upon a special promise to answer for the debt, default, or miscarriage of another person, or to charge a person upon an agreement made upon consideration of marriage, or upon a contract or sale of real estate, of any interest in or concerning it, or upon an agreement that is not to be performed within one year from the making thereof, unless the agreement upon which the action is brought, or a memorandum or note thereof, is in writing, which need not state the consideration, and signed by the party to be charged therewith or a person authorized by him. § 28-3503. Declaration, grant, and assignment of trust A declaration or creation of trust or confidence of real estate which is not in writing, signed by the party who is by law enabled to declare the trust or by his last will in writing, is void.

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