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WESTERN STATES THRIFT v. JENSEN

No. 12296.

490 P.2d 896 (1971)

26 Utah 2d 418

WESTERN STATES THRIFT, a corporation, Plaintiff and Respondent, v. Charles Ray JENSEN and Lida C. Jensen, his wife, Defendants and Appellants.

Supreme Court of Utah.

November 19, 1971.

Attorney(s) appearing for the Case

Lorin N. Pace, Salt Lake City, for defendants and appellants.

Paul N. Cotro-Manes and E.H. Fankhauser, of Cotro-Manes, Fankhauser & Beasley, Salt Lake City, for plaintiff and respondent.

ELLETT, Justice:

This is an appeal from a judgment on a note rendered by the court sitting without a jury. The defense is that of usury.

Our statute1 provides that an industrial loan company may, in addition to interest, charge a borrower a fee for examining and investigating the character and circumstances of the borrower. It further provides that the fee shall not be assessed to a borrower more often than once each six months...

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