Davidson v. Walsh

Shulman, Presiding Judge.

Plaintiff brought suit to collect on a loan of $20,000 she made to her daughter and son-in-law (not a party to this appeal) for their use toward the purchase of a house. Plaintiff asserted that the principal amount of the loan was to be repaid at the time of the sale of the house. Defendants (appellant and her husband) disagreed, contending that the face amount of the loan was to be repaid at such time as they were in a financial position to repay the loan. In any *846event, it was agreed that, until the time of repayment, a 6% annual interest rate would be assessed on…