Hirsch v. Smith

Assuming, but not deciding, thkt the finding of the trial court, that the original $1,500 advance made by Hirsch to Smith constituted a loan, and not an investment in the partnership, is supported by the great weight and clear preponderance of the evidence, this appeal presents the question of whether an agreement to share in earnings in lieu of interest is usurious when such share of earnings amounts to more than the maximum rate of interest permitted by statute.

The Minnesota supreme court in Andrews v. Andrews (1927), 170 Minn. 175, 181, 212 N. W. 408, 213 N. W. 899, 51 A. L. R. 542, passed…