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STICKEL v. HARRIS

Docket No. A035933.

196 Cal.App.3d 575 (1987)

242 Cal. Rptr. 88

NANCY STICKEL, Plaintiff and Respondent, v. JOSEPH M. HARRIS et al., Defendants and Appellants.

Court of Appeals of California, First District, Division Four.

November 24, 1987.

Attorney(s) appearing for the Case

COUNSEL

Wayne L. Bender, L. Joanne Sakai and Rosenblum, Parish & Bacigalupi for Defendants and Appellants.

Wayne H. Thomas for Plaintiff and Respondent.

OPINION

POCHE, J.

The issue presented is whether a loan bearing a 30 percent annual rate of interest obtained by a licensed real estate broker on behalf of himself and certain fellow partners and joint venturers is exempt from the interest limitations of the usury law.

BACKGROUND

In December of 1980 Nancy Stickel was approached by Robert Butticci, a licensed real estate broker, with a short-term investment proposal...

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