Staros v. Avalon Shores, Inc.

WIGGINTON, Judge.

Plaintiffs have appealed a final judgment which found that a loan made by them to defendants sometime prior to the year 1958 was infected with usury, as a consequence of which it was adjudged that the entire debt, both principal and interest, be forfeited and the debt cancelled.

By the final judgment here reviewed the trial court made no determination as to the exact amount of the loan made by appellants to appellees. It was found and adjudged on conflicting evidence that the amount of interest charged by appellants as the makers of the loan was in excess of that permitted by…