King v. WESTERN UNITED ASSUR. CO.

997 P.2d 1007 (2000)

100 Wash.App. 556

Teresa KING, Appellant, Cross-Respondent,

v.

WESTERN UNITED ASSURANCE CO., Respondent, Cross-Appellant.

No. 44949-4-I.

Court of Appeals of Washington, Division 1.

April 24, 2000.

Robert Harold Stevenson, Seattle, for Appellant.

Steven Walter Klug, Bellevue, for Respondent.

BAKER, J.

When full value is given in a transaction in exchange for a promissory note, a party is not entitled to relief under the usury laws when the stated interest rate of the contract is not usurious notwithstanding the fact that the note was subsequently resold at a discount or that the…