Grady v. Price

JENNINGS, Justice.

The appellants E. L. Grady, a mortgage broker and licensed attorney, and his wife, brought suit to foreclose certain mortgages which secured construction loans made by or through him to the appellees. Appellees counterclaimed for the amount of charges exacted by appellants on these loans alleging that such charges were usurious under A.R.S. § 44 — 1202. 1 The foreclosure suits were carried to completion, and the issues of the counterclaim were then tried to a jury. At the close of the evidence, the court, acting on cross motions, directed a verdict in favor of the appellants…