Rossberg v. Holesapple

WOLFE, Chief Justice.

Action by the appellants to foreclose certain security given by the respondents for the payment of a $1600 promissory note executed by them. The respondents denied liability on the ground that the note was usurious. From a judgment declaring the note and the security null, void and usurious and cancelling the same, this appeal is prosecuted.

The evidence is substantially without dispute. On April 11, 1951, the respondents, as buyers, and Jack H. and La-Von M. Rohlfing, as sellers, executed an “Earnest Money Receipt and Agreement” for the purchase and sale of a house in the…