Opinion ID: 2114479
Heading Depth: 1
Heading Rank: 5

Heading: interest and costs award

Text: Roemer asserts that if this court affirms the trial court's finding that he entered the contracts in his individual capacity, we must nonetheless reverse the trial court's award to GFSI of costs and interest at 1½ percent per month because, as to Roemer individually, the sales contracts' terms call for GFSI to receive a usurious rate of interest. He asserts that pursuant to Neb.Rev.Stat. § 45-101.03 (Reissue 1998), the maximum legal rate of interest GFSI could assess against Roemer as an individual is 16 percent annually on the unpaid principal balance. Compare Classen v. Becton, Dickinson & Co., 214 Neb. 543, 334 N.W.2d 644 (1983) (interpreting Neb.Rev.Stat. § 45-101.04(2) (Cum. Supp.1982), one of the exceptions to § 45-101.03, as providing that corporation may agree to pay any rate of interest by agreement in writing). Because the sales contracts' terms provided for 1½ percent per month interest on the unpaid balance, which at a minimum is 18 percent annually if not compounded monthly, Roemer argues that pursuant to Neb.Rev. Stat. § 45-105 (Reissue 1998), GFSI cannot recover any interest or costs in this action. We cannot consider Roemer's usury argument because he did not plead usury before the trial court. The claim of usury in this state is a defense to a cause of action. Farmland Enterprises, Inc. v. Schueman, 212 Neb. 342, 322 N.W.2d 665 (1982); Seldin v. Northland Mortgage Co., 189 Neb. 175, 202 N.W.2d 174 (1972). Usury must be pleaded to be available as a defense. Stuart v. Durland, 115 Neb. 211, 212 N.W. 31 (1927); McCready v. Phillips, 56 Neb. 446, 76 N.W. 885 (1898); Bell v. Stowe, 44 Neb. 210, 62 N.W. 456 (1895). GFSI prayed for prejudgment and postjudgment interest in its operative petition, yet Roemer did not claim the benefit of the usury laws in his operative answer, much less plead facts in his answer that would support a usury defense. See Stuart v. Durland, supra (stating under certain circumstances, defendant need only claim benefit of usury statute in its answer to preserve defense, rather than plead specific facts). Because Roemer asserted this defense for the first time on appeal, we do not reach it.