Herman Ross and Hubert Garner v. Lake City Equity Finance Corporation, an Illinois Corporation

KNOCH, Senior Circuit Judge.

Plaintiffs-appellants, Herman Ross and Hubert Garner, brought their action *2in the United States District Court against Lake City Equity Finance Corporation, defendant-appellee, to recover double damages under the Illinois usury statute, Ill.Rev.Stat. Ch. 74, §§ 4-6. Jurisdiction was based on diversity of citizenship. Plaintiffs are residents of Michigan. Defendant is an Illinois corporation.

Plaintiffs-appellants have appealed from grant of motion for summary judgment in favor of defendant.

The facts are briefly as follows. In May, 1967, defendant agreed to lend…