Union Central Life Insurance v. LaFollette

The principal question concerned in this appeal is whether or not the transaction between the plaintiff and the defendants LaFollette, involving a loan of $13,000 secured by a mortgage on real property, provided for a usurious rate of interest.

On or about May 20,1930, the defendant Joseph W. LaFollette and his wife and two daughters procured from the plaintiff a loan of $13,000, and about the same date the LaFollettes executed and delivered to the plaintiff 21 promissory notes. The first of these notes was for $482.81, payable December 1,1930, and the next six were due and payable on December…