Southern Federal Savings & Loan Ass'n v. Lyle

Gregory, Justice.

This usury case comes to this court on writ of certiorari.

On February 28, 1975, respondent Lyle executed a promissory note secured by a deed to secure debt to Southern Federal for $85,000, with interest on the unpaid principal balance from the date of the note at 8 3/4% per annum. Lyle was to repay the standard form note “in consecutive monthly installments of $512 on the 15th day of each month beginning April 15, 1975, until the entire indebtedness evidenced hereby is fully paid, except that any remaining indebtedness, if not sooner paid, shall be due and payable on the 15th…