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VANDERWEYST v. FIRST ST. BANK OF BENSON

Nos. C4-87-283, C8-87-285.

408 N.W.2d 208 (1987)

James VanderWEYST, et al., Appellants, v. FIRST STATE BANK OF BENSON, Respondent, and John DeVAAN, et al., Appellants, v. FIRST STATE BANK OF BENSON, Respondent.

Court of Appeals of Minnesota.

Review Granted September 29, 1987.

Attorney(s) appearing for the Case

Scott B. Lundquist, Austin & Roth, Minneapolis, Michael D. Miller, Edina, for appellants.

John W. Riches II, Benson, for respondent.

Heard, considered and decided by POPOVICH, C.J., and HUSPENI and MULALLY, JJ.

OPINION

MULALLY, Judge.

Appellants sued respondent claiming the rates charged on various agricultural loans were in excess of the limits prescribed by statute and therefore usurious, and sought compensatory, punitive, and penalty damages. Respondent claimed application of the "most favored lender" doctrine excused interest rate charges in excess of those prescribed by Minn.Stat. §§ 334.011 and 48.195.

In both cases, the parties cross-moved...

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