Kjar v. Brimley

CALLISTER, Chief Justice:

Plaintiffs initiated this action to recover the statutory penalty (three times the amount of interest paid, as provided in Section 15-1-7, U.C.A.1953) on an alleged loan transaction with defendants, wherein an alleged usurious rate of interest was exacted. Defendants moved for summary judgment, which the trial court granted; plaintiffs appealed therefrom.

At the inception of this opinion it should he related that in defendants’ motion for summary judgment there was no assertion that there was no genuine issue as to a material fact but merely a claim that defendants…