Legal Opinion
Bragg v. Household Finance Corp.
Court of Appeals of Georgia
Decided October 4, 1976No. 52672PublishedCited by 9 opinions
1Opinion of the Court
Deen, Presiding Judge.
1. The stated purpose of the Industrial Loan Act is to regulate the business of making loans of $3,000 or less. Code Ann. § 25-302 (Ga. L. 1975, p. 393). To this end, a maximum rate of charge is provided for. Code Ann. § 25-315 (Ga.L. 1975, pp. 393, 394). If the contract provides for a greater rate of charge than that provided for by law, the lender is guilty of usury and the entire loan contract is null and void. Code Ann. § 25-9903.
The cases dealing with the invalidity of acceleration clauses under the Industrial Loan Act are predicated not upon a per se repugnance to…
2Cases cited8 opinions
- Lawrimore v. Sun Finance Co.Court of Appeals of Georgia · 1974
- Lewis v. Termplan, Inc.Court of Appeals of Georgia · 1971
- Hardy v. G. A. C. Finance Corp.Court of Appeals of Georgia · 1974
- GAC FINANCE CORPORATION v. HardySupreme Court of Georgia · 1974
- Hartsfield Co. v. ShoafSupreme Court of Georgia · 1937
3 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Clyde v. LIBERTY LOAN CORPORATIONSupreme Court of Georgia · 1982
- Pollard v. Congress Finance Corp.Court of Appeals of Georgia · 1980
- Diggs v. Swift Loan & Finance Co.Court of Appeals of Georgia · 1980
- Blazer Financial Services, Inc. v. DukesCourt of Appeals of Georgia · 1977
- Sprouse v. SprouseCourt of Appeals for the Fifth Circuit · 1978
4 more not listed; retrieve them via the Exa API.