Bell v. Bailey

This is an appeal by the plaintiff Hilda Bell from an adverse final summary judgment in an action to collect on a $16,784.17 loan. The trial court concluded that the loan carried a criminally usurious rate of interest (64.3%) and therefore was unenforceable under Section 687.071(7), Florida Statutes (1987). We reverse.

It is undisputed that the defendants were required by the oral loan agreement to repay the loan within thirty (30) days after the loan was made, plus $900. According to the plaintiffs affidavit filed in opposition to the defendant’s motion for summary judgment, however, this…