Steiner v. Community Finance & Thrift Corp.

MARTIN, Justice.

Appellee, Community Finance & Thrift Corporation, loaned to James R. Steiner and wife, Lorraine Steiner, the sum of $503 and received as evidence of the debt a note in the principal sum of $570 due one year from date, bearing no interest until maturity, and 10% after maturity. Appellee asserts that the note for $570 represents the principal of $503 loaned to appellants, 10% interest in the amount of $57 and a $10 charge as agreed upon for items incidental to the making of the loan. At the.time of the execution and delivery of the promissory note, and as a condition to making…