Preyer v. Parker

The sole question presented by this appeal is whether the plaintiffs’ evidence establishes as a matter of law that the contract upon which they sued was a usurious transaction.

“In order to constitute a usurious transaction, four requisites must appear: (1) There must be a loan, express or implied; (2) an understanding between the parties that the money lent shall be returned; (3) that for such loan a greater rate of interest than is allowed by law shall be paid or agreed to be paid, as the case may be; and (4) there must exist a corrupt intent to take more than the legal rate for the use of…