This paper gives an overview of the existing regulations related to the institute of usurious contract. Theoretical parts of the work are supported by examples from the case law, i.e. the views of the Supreme Court are outlined. At the very beginning, the validity and the invalidity of the contract pursuant to the Civil Obligations Act is discussed in correlation with the validity and the invalidity of the contract in Roman law. Given that the legal consequence of the usurious contract is its nullity, attention is focused on null and void contracts. The criminal aspect of the conclusion of the usurious contract is also presented. In terms of usurious interest rate, the Supreme Court's interpretation of what is generally considered to be a usurious interest and what is the legal consequence of higher interest rate than allowed by law is presented. The institute of usurious contract is compared with the institute of excessive damage, and their basic differences and similarities are listed. The paper concludes with a comprehensive view of three cases where the Supreme Court ruled as to whether these contracts were usurious.