Schauman v. Solmica Midwest, Inc.

Nelson, Justice.

This appeal involves the question of whether a contract between plaintiffs, Gilbert Schauman and Janette Schauman, husband and wife, and defendant Solmica Midwest Inc. was usurious.

It appears that on October 27, 1966, plaintiffs entered into a “Contract and Guarantee” with defendant Solmica for the application of aluminum siding on a home owned by plaintiffs. The contract provided that the cash price for the work was $3,200 and the credit price therefor was $4,879.56, payable in 84 monthly installments of $58.09 each, commencing January 25, 1967. Title to the materials was to…