Woods v. Curry

Citations

• 109 Kan. 677
• 202 P. 86
• 1921 Kan. LEXIS 345

Syllabus

<p>SYLLABUS BY TIÍE COURT.</p> <p>Usury — Promissory Note — Usurious Consideration — Note Nonoolleetible. Plaintiffs sued on a promissory note for $5,000. Defendant answered that the note was without considerat'on and was given for usury exacted in a loan of $25,000, evidenced by a note for that sum bearing ten per cent interest, and that the principal and interest had been fully paid. On the trial plaintiffs admitted that the note was a renewal of a $3,500 note taken in connection with and as part of the $25,000 loan transaction and that the amount of the note was increased to $5,000 to cover $1,500 commission for making the $25,000 loan. Held, plaintiffs’ admission that the note in suit was given in renewal of the one taken in connection with and as part of the original loan transaction prevents a recovery because that transaction was evidenced by a note already loaded with all the law permitted it to carry, and any other note given with and as part of the same transaction was necessarily usurious.</p>