Union Central Life Insurance Co. v. Neuhoff

THOMAS, J.:

The point presented for decision by this court was determined in the trial court on a motion to strike defendant’s pleas and enter a judgment for the plaintiff, now appellee, who had brought suit to recover certain interest paid by him, under protest, to the appellant.

The facts are quite simple. Appellant lent appellee money bearing interest at five per cent and secured by a mortgage. This transaction was consummated 1 October 1935. On 15 November 1940 the lender, for certain considerations, agreed in writing to reduce the interest rate to four and one-half per cent from 1 April…