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FARMLAND ENTERPRISES, INC. v. SCHUEMAN

No. 44337.

322 N.W.2d 665 (1982)

212 Neb. 342

FARMLAND ENTERPRISES, INC., Appellee, v. Gerald SCHUEMAN and Donna Rae Schueman, Appellants.

Supreme Court of Nebraska.

July 30, 1982.

Attorney(s) appearing for the Case

N. Michael D'Angelo of Hogzett & D'Angelo, Oakland, Iowa, and Thomas C. Emery, Omaha, for appellants.

John E. North, Jr., of Fromkin, Herzog, Jabenis & North, Omaha, and James P. Linn of Linn, Helms, Kirk & Burkett, Oklahoma City, Okl., for appellee.

Heard before KRIVOSHA, C. J., BOSLAUGH, McCOWN, WHITE, and HASTINGS, JJ., and BRODKEY, J., Retired.

KRIVOSHA, Chief Justice.

This appeal involves the question of whether the appellee, Farmland Enterprises, Inc. (Farmland), contracted for, received, or reserved a rate of interest on a contract entered into by and between Farmland and the appellants, Gerald Schueman and Donna Rae Schueman (Schueman), in excess of the rate provided by Neb.Rev. Stat. § 45-101.03 (Reissue 1978), thereby limiting Farmland's recovery on its contract with Schueman to the principal...

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