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THE FINANCIAL CORP. v. MANAGED INV. CORP.

No. 7214.

643 P.2d 549 (1982)

THE FINANCIAL CORP., a Hawaii corporation, Plaintiff-Appellee, v. MANAGED INVESTMENT CORPORATION, a Hawaii corporation, Durrel L. Robison; Jeanne B. Robison, Defendants-Appellants, v. John DOES 1-50; Doe Entities 1-50; and Doe Governmental Units 1-50, Defendants.

Supreme Court of Hawaii.

April 15, 1982.

Attorney(s) appearing for the Case

Tobias C. Tolzmann, Honolulu, for defendants-appellants.

James N. Duca, Honolulu (Vernon Woo, Honolulu, with him on the brief), for plaintiff-appellee.

Before RICHARDSON, C.J., LUM and NAKAMURA, JJ., and OGATA and MENOR, Retired Justices, assigned by reason of vacancies.

LUM, Justice.

In this case, we need to determine whether the usury laws of Hawaii were violated in regard to three loan agreements between plaintiff-appellee THC Financial Corporation and defendants-appellants Managed Investment Corporation, Durrel L. Robison and Jeanne B. Robison.

Plaintiff filed a complaint in the circuit court for collection of principal and interest due on these promissory notes1 and for the foreclosure of...

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