Case Name: Nantz v. Hurst
Court: Kentucky Court of Appeals
Jurisdiction: Kentucky
Decision Date: 1915-10-26
Citations: 166 Ky. 396
Docket Number: 
Parties: Nantz v. Hurst.
Judges: 
Reporter: Kentucky Reports
Volume: 166
Pages: 396–397

Head Matter:
Nantz v. Hurst.
(Decided October 26, 1915.)
Appeal from Owsley Circuit Court.
Contracts- — Interest on Purchase of Land — When Not Usurious.— Where, on a purchase of land, the vendee agrees to pay as part of the purchase price a rate of interest on deferred payments-exceeding the legal rate, the contract is not usurious.
H. C. EVERSOLE for appellant.
E. E. HOGG for appellee.

Opinion:
Opinion op the Court by
Judge Nunn
Reversing.
In this action to recover on a note executed in consideration for a conveyance of land, and to enforce a. purchase money lien for the payment thereof, the court-erred in adjudging that the stipulated interest in excess of 6% was usurious. In the meaning of the statute it was. not a transaction for the loan or forbearance of money. Gruell v. Smalley, 1 Duvall, 358; Tousey v. Robinson, 1 Met., 663; Eddy v. Northup, 15 Ky. L. R., 434 ; 23 S. W., 3531; McCann's Exr. v. Bell, 79 Ky., 113; Watts v. National Building & Loan Assn., 102 Ky., 29 Berry v. Walker, 9 B. Mon., 464.
The judgment is reversed with directions to enter judgment for the amount of the-note and interest suedL on, and enforce the lien on the land described in the; judgment.