Chapman v. Farr

Opinion

GOFF, J. *

The trial court awarded damages, injunctive and declaratory relief to plaintiff and cross-complainants against the Frisones, defendants and cross-defendants, the appellants herein. It did so on the theory that the Frisones, through appellant Larry Frisone, loaned cross-complainants (the Farrs) $50,000 at usurious rates. Three months after judgment was entered below, the California constitutional section defining usury 1 was amended by referendum to exclude from its operation “any loans made or arranged by any person licensed as a real estate broker by the State of California…