Madsen v. Whitman
Idaho Supreme Court
APPEAL from District Court, Bear Lake County. The general question is: Was this suit brought upon a contract which was usurious at the commencement of the action? The old contract: The defendant Whitman testified that the total payments were twenty-seven dollars per month on the entire loan of $1,800. This would be just eighteen per cent per annum on the $1,800, a rate which was at that time (1894, or prior thereto) legal and authorized by the interest laws of Idaho.
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APPEAL from District Court, Bear Lake County. The general question is: Was this suit brought upon a contract which was usurious at the commencement of the action? The old contract: The defendant Whitman testified that the total payments were twenty-seven dollars per month on the entire loan of $1,800. This would be just eighteen per cent per annum on the $1,800, a rate which was at that time (1894, or prior thereto) legal and authorized by the interest laws of Idaho. When the Whitmans paid this, they were simply paying the interest on the loan. They had the $1,800 all the time, less…
1Opinion
ON REHEARING.
STOCKSLAGER, J.
— Appellants, in their petition for a rehearing, say: “We are fully convinced that the voluminous record, and the confusing, conflicting, and in many instances unsatisfactory evidence presented by such record, has misled the court, and that the opinion .... is based on a state of facts which the record does not support, and that such opinion does neither directly nor indirectly refer to or consider other questions presented by the record, which we believe are of controlling importance. Further, the decision in this cause practically overrules the decision of this…
Also in this document: Concurrence.
2Cases cited1 opinion
- Anderson v. Oregon Mortgage Co.Idaho Supreme Court · 1902