Farmland Enterprises, Inc. v. Schueman

This appeal involves the question of whether the appellee, Farmland Enterprises, Inc. (Farmland), contracted for, received, or reserved a rate of interest on a contract entered into by and between Farmland and the appellants, Gerald Schueman and Donna Rae Schueman (Schueman), in excess of the rate provided by Neb. Rev. Stat. § 45-101.03 (Reissue 1978), thereby limiting Farmland’s recovery on its contract with Schueman to the principal only. See Neb. Rev. Stat. § 45-105 (Reissue 1978). The trial court held that Farmland did not contract for, receive, or reserve usurious interest, and found in…