Broce v. Master Loan Service Inc.

The plaintiff applied for and obtained from the defendant, a corporation licensed and engaged in the business of making small loans on personal property in sums of $300 and less, a loan of $75, executing in connection therewith a note and bill of sale. The bill of sale conveyed title to a piano and bench and a phonograph. Plaintiff was to repay the loan in fifteen monthly payments of $5 each, due on the first of each month after date, with interest at the rate of 3% per cent, per month on the unpaid balances of principal. When twelve monthly payments had been made, he declined to make any…