Paul v. U.S. Mutual Financial Corp.

Plaintiffs appeal as of right from an order of the trial court granting summary judgment in favor of defendant on the basis that plaintiffs were not entitled to assert the defense of usury on a promissory note. We reverse.

This case had its genesis on April 1, 1979, when plaintiffs purchased a business known as "Doug’s Party Store” from Douglas and Arlene Sindlinger. This business was located in Manchester, Michigan, and consisted of a party store and gasoline filling station. The sale was evidence by: (1) a land contract secured by the real estate on which the business was located and…