Olson v. Caufield
Idaho Supreme Court
APPEAL from the District Court of the Second Judicial District, for Clearwater County. Hon. Edgar G. Steele, Judge. Action to foreclose mortgages. Judgment for plaintiff. “To render a transaction usurious, it is not necessary that excessive interest should have been actually taken or received: that the parties -contracted for usurious interest is sufficient. ’ ’ (29 Am. & Eng.
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APPEAL from the District Court of the Second Judicial District, for Clearwater County. Hon. Edgar G. Steele, Judge. Action to foreclose mortgages. Judgment for plaintiff. “To render a transaction usurious, it is not necessary that excessive interest should have been actually taken or received: that the parties -contracted for usurious interest is sufficient. ’ ’ (29 Am. & Eng. Ency. of Law, 483.) In the case of a contract not usurious on its face, it is incumbent on the debtor or any other party seeking to set up a verbal agreement purporting to modify such written contract to specially plead…
1Opinion of the CourtBudge, J.
This is an action to foreclose two mortgages, covering the same property, given by James O’Hara, deceased, and Belzimere O’Hara, his wife, to respondent. The first was given on February 8, 1909, as security for a note of that date for $1,314, due January 1, 1912, bearing interest at the rate of 10 per cent per annum; the second was given on December 16, 1913, securing a note for $1,218.73, due December 16, 1914, which also bore 10 per cent interest until *310maturity and 12 per cent thereafter. The defense with respect to both of the foregoing notes and mortgages is usury.
Judgment was entered in…
2Cases cited1 opinion
- Cleveland v. Western Loan & Savings Co.Idaho Supreme Court · 1901
3Cited by20 opinions
- Meridian Bowling Lanes, Inc. v. BrownIdaho Supreme Court · 1966
- Freedman v. HendershottIdaho Supreme Court · 1955
- Bell v. Idaho Finance Co.Idaho Supreme Court · 1953
- Kershner v. SganziniNew Mexico Supreme Court · 1941
- Bethke v. Idaho Sav. & Loan AssociationIdaho Supreme Court · 1969
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