Tillman v. Commercial Credit Loans, Inc.

I recognize that subprime lenders are under close scrutiny and that our General Assembly decided to outlaw the sale of single premium insurance some time after the execution of the contracts at issue. This case, however, is not about regulating subprime loans. Instead, the Court’s decision today implicates bedrock principles of contract law which should not be disturbed in response to policy concerns over a disfavored industry. For the first time in our *112history, a North Carolina appellate court has found a contract to be unconscionable.

Although the majority3 ostensibly applies general…