Section 2
Rate of interest to be decreed by Courts.
The Usury Laws Repeal Act, 1855
About this Act
An Act for the repeal of the Usury Laws.
In any suit in which interest is recoverable, the amount
shall be adjudged or decreed by the Court at the rate (if any) agreed upon by the parties; and if no rate
shall have been agreed upon, at such rate as the Court shall deem reasonable.