Thunderbird Investment Corp. v. Rothschild

Opinion

HERNDON, Acting P. J.

Statement of the Case

Plaintiffs appeal from an adverse judgment entered in this action wherein they have claimed that defendants charged them a usurious rate of interest in a 1963 loan transaction in which they borrowed $300,000 from defendants. This loan was evidenced by a promissory note and secured by a deed of trust on real property.

The basic issue presented by this appeal is whether or not the loan transaction involved the collection of interest that was usurious as a matter of law. On the basis of its findings of fact, the trial court concluded and held that…