KAWAUCHI v. TABATA

No. 4399.

413 P.2d 221 (1966)

Toichi KAWAUCHI and Matsu Kawauchi v. Ichiro TABATA et al.

Supreme Court of Hawaii.

Rehearing Denied April 21, 1966.


Attorney(s) appearing for the Case

R. G. Dodge, Heen, Kai & Dodge, Honolulu, for appellant.

George R. Ariyoshi, Russell K. Kono, Yasutaka, Fukushima, and O. Vincent Esposito, Honolulu, for appellees.

Before WIRTZ, LEWIS, and MIZUHA, JJ., KING, Circuit Judge in place of CASSIDY, J., disqualified, and KITAOKA, Circuit Judge, assigned by reason of vacancy.


LEWIS, Justice.

Plaintiffs sued to obtain a declaration that a transaction entered into in 1958 was a mortgage securing a usurious loan, and to establish a right of redemption upon payment of the sum of $90,000 received by them in the transaction, less "all moneys paid on the loan." The court held that the transaction was a sale, coupled with a lease back of the premises and an option to repurchase. Judgment was entered for defendants and plaintiffs appealed.

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