Attorney General v. Contract Purchase Corp.

Pursuant to leave granted, plaintiff, attorney general of the State of Michigan, brought an original proceeding in the nature of quo warranto against the Contract Purchase Corporation, a Michigan corporation. Plaintiff charged violations of the usury law, * the small loan act, † and the insurance code. ‡ Testimony was taken by deposition. Plaintiff asks that the defendant be ousted from its corporate franchise and enjoined from continuing its illegal practices.

Defendant, incorporated in 1933, has offices in several cities in Michigan. It engages in many fields of financial activity, including…