PIPPIN v. COMMERCE LOAN AND INVESTMENT CO.

No. 38,481

172 Kan. 669 (1952)

242 P.2d 1060

KENNETH PIPPIN and MARGARET PIPPIN, Appellants, v. COMMERCE LOAN AND INVESTMENT COMPANY, INC., Appellee.

Supreme Court of Kansas.

Opinion filed April 12, 1952.


Attorney(s) appearing for the Case

Robert M. Murray, of Kansas City, Mo., argued the cause, and Frank L. Bates, of Kansas City, was with him on the briefs for the appellants.

John E. Shamberg, of Kansas City, argued the cause, and Joseph Cohen, Charles S. Schnider, Thomas E. Joyce, Norma Braly and Joseph P. Jenkins, all of Kansas City, were with him on the briefs for the appellee.

Payne H. Ratner, Ora D. McClellan, Louise Mattox, Payne H. Ratner, Jr., Keith Sanborn, Edgar M. Miner and Gerald L. Michaud, all of Wichita, filed a brief amicus curiae on behalf of Brotherhood of Railroad Trainmen.


The opinion of the court was delivered by

PRICE, J.:

This is an appeal from an order sustaining a demurrer to an amended petition, as amended, in an action by the borrowers to recover alleged usurious interest paid to the lender, together with penalties, as provided by G.S. 1949, 16-202 and 203.

The matter grew out of the execution of a promissory note and the contemporaneous purchase by the borrowers of a so-called investment certificate in like amount...

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