D & M DEVELOPMENT CO. v. SHERWOOD AND ROBERTS, INC.

No. 10366.

457 P.2d 439 (1969)

93 Idaho 200

D & M DEVELOPMENT COMPANY, Inc., Plaintiff-Respondent, v. SHERWOOD AND ROBERTS, INC., Defendant-Appellant.

Supreme Court of Idaho.

Rehearing Denied August 18, 1969.


Attorney(s) appearing for the Case

Racine, Huntley, Herzog, Olson & Zener, Pocatello, for appellant.

Thomas A. Miller, of Hawley, Troxell, Ennis & Hawley, Boise, amicus curiae.

Baum & Peterson, Pocatello, Thomas A. Olson, of Landol, Gary & Olson, Bozeman, Mont., for appellee.


SHEPARD, Justice.

The sole question of law presented by this appeal is whether a "commitment fee" or "brokerage fee" is to be defined as interest when it is contended that a lending arrangement carries interest in excess of the maximum permitted by our statute and is therefore usurious. We hold that such a fee does not constitute interest.

In this case extensive interrogatories, affidavits and depositions were taken, filed, and are a part of the record from...

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