Olwine v. Torrens

Opinion by

Hoffman, J.,

Appellant contends that the lower court erred when it found the repayment provision in appellant’s loan usurious under the version of the Pennsylvania usury law 1 applicable at the time of the loan.

On November 19, 1958, appellant made a loan to the appellee and her husband for the principal sum of $7000.00 plus 6% interest, and a bond and mortgage were executed. The bond and mortgage provided that the amount of principal to be repaid should be increased or decreased by a percentage equal to the difference between the average purchasing power of the dollar for the months…