Helbush v. Mitchell

OPINION OP THE COURT BY

PETERS, J.

This is an action upon an installment promissory note. One of the defenses was usury. Trial was had, jury waived. Judgment was for plaintiff and defendants appealed. The only assignment of error meriting consideration is that the note is usurious.

The note in question is dated May 18, 1935; the principal amount is $2350 and is payable in forty equal installments of $58.75 on the 15th and 30th day of each month following the date of the note. The note contains no provisions for interest except interest after maturity and contains the usual acceleration clause.…