GERSON v. KELSEY (1935)

Supreme Court of California.

GERSON v. KELSEY et al.

Civ. 5176(3).

Decided: March 28, 1935

Oscar Samuels and A. Dal Thomson, both of San Francisco (Louis Ferrari, of San Francisco, of counsel), for appellant. C. Ray Robinson and James D. Garibaldi, both of Merced, for respondents.

In denying the petition for a hearing herein, we withhold our approval of the following statement appearing in the opinion [Gerson v. Kelsey (Cal. App.) 40 P.(2d) 543, 544]: ‘The item of interest ‘at the rate of twelve (12) per cent per annum payable monthly,’ which was provided for by the terms of the note, is usurious and void.' Such a provision in a note or other contract does not render it usurious. Haines v. Commercial Mortgage Co., 200 Cal. 609, 625, 254 P. 956, 255 P. 805, 53 A. L. R. 725.

PER CURIAM.

Was this helpful?

Why was this helpful?

Easy to understand

Solved my problem

Other

Why was this not helpful?

Missing the information I need

Too complicated / too many steps

Out of date

Other

Thank you for your feedback!

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes visit FindLaw's Learn About the Law.

Go To Learn About The Law