Ridgway v. Davenport

Citations

• 37 Wash. 134
• 79 P. 606

Syllabus

<p>Interest — Usury—Deductions for Commission — Principal and Agent. Under Bal. Code, §§ 3669, 3671, prohibiting interest in excess of twelve per cent, either directly or indirectly, and providing that the principal shall be held for the acts of any person contracting therefor, a note is usurious where brokers loaned the money of the principal and deducted a sum by way of commissions in excess of the legal interest; and the fact that the principal did not authorize such acts or derive any benefit from the commissions is immaterial.</p>