Opinion
Gen. No. 9,486. (Abstract of Decision.)
Opinion filed May 28, 1946 Released for publication June 24, 1946
USURY, § 10 — higher interest rate, within statutory limit, payable after maturity as not usurious. In action against estate of deceased trustee for money had and received by trustee under trust deed, where it appeared that trustee collected five per cent interest on mortgage bonds until maturity, and six per cent thereafter, and plaintiff contended that collection of higher rate after maturity was usurious and that he could recover additional one per cent paid, held that since rate after maturity was within statutory limit, court properly directed verdict for defendant (Ill. Rev. Stat. 1945, ch. 74, par. 4; Jones Ill. Stats. Ann. 67.04).
See Callaghan's Illinois Digest, same topic and section number.
Appeal from the Circuit Court of Tazewell county; the Hon. JOSEPH E. DAILY, Judge, presiding.
Judgment affirmed. Heard in this court at the May term, 1946.
Neal D. Reardon, pro se;
C.V. Frings, for appellee.
Not to be published in full. Opinion filed May 28, 1946; released for publication June 24, 1946.