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HUSS v. MARAS

No. 78-536.

77 Ill. App.3d 554 (1979)

396 N.E.2d 92

JULIA HUSS, Plaintiff-Appellant, v. FRANK MARAS et al., Defendants-Appellees.

Appellate Court of Illinois — Second District.

Opinion filed October 19, 1979.

Attorney(s) appearing for the Case

Nickels & McClow, of Elburn, for appellant.

Paul A. Lewis, of Alschuler, Putnam, McWethy & Weiss, of Aurora, for appellees.

Judgment affirmed.

Mr. JUSTICE SEIDENFELD delivered the opinion of the court:

Whether unpaid purchase money due under a real estate installment contract is a "loan" with interest governed by the usury statute, and if so, whether the "business loan" exception applies (Ill. Rev. Stat. 1975, ch. 74, par. 4(c)), are the issues in this appeal.

The plaintiff Julia Huss, the purchaser, filed a complaint to recover double the amount of interest paid as a penalty...

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