Empire Building Supply, Inc. v. EKO Investments, Inc.

Plaintiff, a building supply company, appeals a decree which (1) denied foreclosure of a materialman’s lien against an improvement owned and constructed by defendant EKO Investments, Inc., hereinafter referred to as owner, and (2) found that plaintiff was entitled to a personal judgment against defendant Reeder, hereinafter referred to as contractor. Contractor cross-appeals the personal judgment, contending that all transactions with plaintiff were usurious.

The relevant facts are as follows. Owner and contractor entered into an agreement whereby contractor was to apply sheetrock and perform…