Skelton Motor Co. v. Brown

This' is an action by the appellant upon an installment note executed by the appellees in payment for motor vehicle equipment. The defendants demurred fo the complaint on the ground that the note appears on its face to be usurious. The trial court sustained the demurrer and dismissed the complaint.

It is conceded that the appellees’ original principal debt was $3,000.00. . To evidence this obligation the seller prepared a note for $3,322.08, dated February 23, 1957, .payable in monthly installments of $138.42 beginning on April 1, 1957, and reciting that the interest was prepaid until…