In Junkin v. Golden West Foreclosure Service, Inc. (2009) 180 Cal.App.4th 1150, Junkin, a real estate agent, and Bennett, a "'hard money' lender" purchased a commercial property for $1.975 million. (Junkin, supra, 180 Cal.App.4th at pp. 1152-1153.) "$1.185 million of that amount came from an institutional lender. Junkin and Bennett were both jointly obligated on that loan. The remainder of the purchase price was provided by Bennett who contributed $856,000. In exchange for Bennett's contribution, Junkin prepared and signed a $960,000 promissory note secured by a deed of trust in favor of Bennett. The note carried an interest rate of 12 percent and required monthly payments of $9,600." (Id. at p. 1153.) Both were on the property's title. (Ibid.) Junkin failed to make payments, and Bennett, afraid of foreclosure, made them himself. Bennett, deciding the building was no longer a good investment, eventually quitclaimed his interest to Junkin, who refinanced with another lender. (Junkin, supra, 180 Cal.App.4th at p. 1153.) After Junkin continued to fail to pay on the note to Bennett, Bennett decided to foreclose, hiring Golden West Foreclosure Service, Inc. to hold a nonjudicial foreclosure sale. (Ibid.) Junkin then filed a complaint alleging the $960,000 note was usurious, and sought to restrain the foreclosure sale. (Id. at pp. 1153-1154.) Among other things, at trial Bennett argued the joint venture exception to the usury laws applied. (Junkin, supra, 180 Cal.App.4th at pp. 1154-1155.) The trial court agreed, and so did the Court of Appeal. (Id. at p. 1152.)