Wagnon v. Slawson Exploration Co.

The opinion of the court was delivered by

Abbott, J.:

The issue in this case is whether the plaintiffs are entitled to 18 percent interest or 24 percent interest on a debt.

The trial court granted summary judgment to the defendants, holding that K.S.A. 16-205 precludes a higher interest rate because of a nonmonetary default and, further, that the renewal note did not provide for the default interest rate in the event of a nonmonetary default. The court found the other issues concerning default raised by plaintiffs to be moot. Plaintiffs appeal and, at plaintiffs’ request, die appeal was…