Kawauchi v. Tabata

*162OPINION OB1 THE COURT BY

LEWIS, J.

Plaintiffs sued to obtain a declaration that a transaction entered into in 1958 was a mortgage securing a usurious loan, and to establish a right of redemption upon payment of the sum of $90,000 received by them in the transaction, less “all moneys paid on the loan.” The court held that the transaction was a sale, coupled with a lease back of the premises and an option to repurchase. Judgment was entered for defendants and plaintiffs appealed.

Plaintiffs are husband and wife. Toichi Kawauchi, the husband, hereinafter will be referred to as “plaintiff.” When…