Sanders v. Liberty Loan Corp.

Smith, Judge.

Appellants borrowed the principal sum of $748.58 from appellee on August 31,1977, under a loan contract. Appellants now contend the loan contract is in violation of the Georgia Industrial Loan Act (Ga. L. 1955, pp. 431-445; 1978, pp. 1033, 1034 (Code Ann. Chs. 25-3, 25-99)), the Federal Truth-In-Lending Act, 15 USCA § 1601 et seq., and Regulation Z, 12 CFR § 226. Both sides moved for summary judgment. The trial court granted appellee’s motion. We reverse with direction.

1. Appellants first contend that the terms of their loan contract with appellee provided for the payment by…