Reel v. Porcella

Two causes of action are set forth in the complaint. It is alleged in the first cause of action that the defendant loaned plaintiffs $30,000 on December 13, 1940, and received four promissory notes, each in the sum of $8,500, payable at intervals of six months; that the loan was, in effect, usurious in its inception since the legal rate of interest covering the period of two years would have amounted to $3,600, whereas the notes call for the payment of $4,000 as interest. Plaintiffs demand, with reference to this cause of action:

“ (a) That the three.remaining notes be cancelled and adjudged…