Leidig v. Rockwood & Co.

This action was brought by plaintiffs Wilbur Leidig and Ruth Leidig, claiming that defendant Rockwood and Company, a Delaware Corporation, charged usurious interest on a promissory note and mortgage and seeking relief from the payment of interest on the said transaction. After trial the circuit judge granted the plaintiffs the relief requested and gave a judgment in favor of the plaintiffs in the amount of $341.71. Defendant appeals, and raises a single issue, viz.: Is the promissory note of August 1963 usurious under the provisions of MCLA 438.51; MSA 19.11, and if so, are plaintiffs…