People's Finance & Thrift Co. v. Varney

The plaintiff brought this action on a promissory note executed by the defendants in favor of the plaintiff. The question involved is that of usury. The face of the note is $200. It is dated March 16, 1927. It was payable on or before January 16, 1928. So far as material, it provides that the defendants promised to pay to the order of the plaintiff $200 “in ten installments of $20.00 each on the 15th day of each month following the date of this note until the whole amount of this note shall have been fully paid with interest from maturity at the rate of 1% per month until paid both before and…