White v. Seitzman

This case involves an appeal by plaintiffs to recover treble damages for interest under the Usury Law of California, Statutes 1919, page lxxxiii, Deerings General Laws, 1954, Act 3757. Two promissory notes were involved, each secured by deeds of real property. The court found that the transactions relating to these notes and trust deeds were in fact loans of money from defendants to plaintiffs, and not sales of trust deeds as contended by defendants. The court further found that the transactions were usurious, which fact was known or should have been known to all parties involved. The trial…