MARK McDOWELL CORPORATION v. LSM 128

Opinion

TODD, J.

This case presents the single issue of whether, under present California usury law, where an agreement is found to provide a usurious rate of interest, the court may award the creditor the 10 percent rate of interest prescribed by Civil Code section 3289, subdivision (b), 1 from the date of the breach. LSM 128, a limited partnership (LSM), appeals after the trial court entered a judgment against it and in favor of Mark McDowell Corporation (McDowell), a California corporation. The judgment includes 10 percent interest for LSM’s breach of a contract found to contain a usurious…