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.

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