Ohio Investment Co. v. Brown

Citations

• 89 Kan. 66
• 130 P. 665
• 1913 Kan. LEXIS 13

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Contract — For Highest Legal Rate of Interest — Enforceable. If the contract rate of interest for the forbearance of the' payment of money does not exceed the highest rate prescribed by the statute as recoverable the courts will enforce the contract.</p> <p>2. Interest — Highest Legal Rate. The highest rate of interest recoverable at the time of the execution of the principal note, '.in this suit, was ten per cent per annum.</p> <p>3. Contract — For Interest — Proper Construction. Where a written contract for interest on money loaned is susceptible of two constructions, • one of which would render the contract usurious and the other not usurious, the latter must be adopted.</p>