Gemperle v. Crouch

In this case the appellant attempts to avoid the draconian penalties of our State's usury statute which were applied by the trial court on summary judgment. Despite almost heroic efforts on appeal, appellant's arguments must be rejected.

Insofar as pertinent, the facts are as follows:

Appellant loaned respondents $50,000. It is undisputed that the loan was for commercial purposes. Respondents signed a commercial note evidencing the indebtedness. The note was due and payable 180 days from February 6, 1981. The note specified interest at 2.25 percent per month commencing on March 6, 1981, and…