Tyrcha v. Wesolek

PRESIDING JUSTICE FREEMAN

delivered the opinion of the court:

Defendant, James Wesolek, appeals from an order of the trial court which granted summary judgment in favor of plaintiff, Thomas Tyrcha, on the affirmative defense of usury in an action to recover on an installment note in connection with the parties’ agreement for the sale and purchase of stock. On appeal defendant asserts that the trial court improperly found that “An Act in relation to the rate of interest and other charges in connection with sales on credit and the lending of money” (the Interest Act or Act) (Ill. Rev. Stat. 1983,…