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LOW v. SUTHERLIN, BARRY & CO.

No. 5785.

35 F.2d 443 (1929)

LOW v. SUTHERLIN, BARRY & CO., Inc.

Circuit Court of Appeals, Ninth Circuit.

October 21, 1929.

Attorney(s) appearing for the Case

Ewell D. Moore, D. A. Knapp, and John H. Bradley, all of Los Angeles, Cal., for appellant.

Joseph L. Lowinson, Royal Martineau, Warren Stratton, and Walter S. Barrette, all of Los Angeles, Cal., for appellee.

Before DIETRICH and WILBUR, Circuit Judges.

DIETRICH, Circuit Judge.

Under the statutes of California (St. 1919, p. lxxxiii), the highest rate of interest which may be agreed upon is 12 per cent. per annum. Any contract for a rate in excess of that amount is declared to be void, and it is also provided (section 3) that, where any one shall for "any loan or forbearance of money" pay any greater rate, he may recover from the payee treble the amount, provided he commences an action for that purpose within one...

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