CHAKFORD v. STURM


65 So.2d 864 (1953)

CHAKFORD et al. v. STURM.

Supreme Court of Florida, Division A.

Rehearing Denied July 13, 1953.


Attorney(s) appearing for the Case

L.S. Julian, Richard E. Cotton, Shutts, Bowen, Simmons, Prevatt & Julian, Miami, for appellants.

Walton, Hubbard, Schroeder, Lantaff & Atkins and John H. Wahl, Jr., Miami, for appellee.


TERRELL, Justice.

Appellants borrowed $60,000 from appellee for 90 days and executed their notes bearing interest at six per cent per annum to secure the loan. A bonus of $5,000 in addition to interest was charged on the loan so appellants received only $55,000. In order to secure a 30-day extension on the loan a second bonus of $600 was charged in addition to interest which totaled $1,318.32. Summarized, appellants received $55,000 on a $60,000 loan for 120 days...

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