Catalina v. Blasdel

in which all Justices join.

This is a usury lawsuit. The issue in this case is whether there was some evidence in the record to support the trial court’s finding that the agreement involved here was not usurious. William J. Blasdel and James W. Catalina entered into a floor plan agreement whereby Catalina Leasings financed the purchase of used cars for BlasdeFs used car lot. Blasdel withdrew from the agreement after four months and subsequently sued Catalina for charging a usurious rate of interest. 1 After a bench trial, the trial court rendered judgment that the plaintiff take nothing. Based…