Young v. Barker

The opinion of the court was delivered by This was an action to recover alleged usurious charges
previously paid by Carl and Sarah Young, the plaintiff borrowers,
to Cecil E. Barker, the defendant lender. Judgment was entered in
favor of the defendant and the plaintiffs have appealed. Plaintiffs' petition sets forth two causes of action. The first
cause of action alleged that on or about May 9, 1956, they
executed and delivered to defendant a promissory note in writing
in the amount of $17,145, payable in monthly installments of
$571.50 on the 10th day of each month beginning on June 10, 1956,
until the full amount was paid; that the note called for 10
percent interest after maturity and that the note together with
interest was paid in full by them on May 6, 1957. The note, a
copy of which was attached to and made a part of the petition,
contained an acceleration clause and gave plaintiffs the
privilege of paying one or more installments on any payment date.