Estate of Traylor v. Harmon

George Rose Smith, Justice.

On April 1, 1974, Robert M. Traylor, Sr., executed a $20,000 installment note to the appellee, John T. Harmon. A payment of $5,000 was due in one month, $5,000 in two months, and the other $10,000 in three mnths. Traylor paid only $3,000 on the note. After Traylor’s death Harmon, on April 9, 1976, filed a claim against his estate for the balance due on the note, with interest. The estate resisted the claim on the ground that the indebtedness was part of a usurious transaction. This appeal is from a judgment of the probate court denying the plea of usury and allowing…