Russo's Marine Mart, Inc. v. Harris

Curran, Dennis J., J.

Under a written contract, Russo’s Marine Mart, Inc. sold a 44-foot power boat to Susan G. Harris and William Harris, for $650,000, a sum that the Harrises chose to entirely finance at an interest rate of 9.42 percent over twenty years. The Harrises agreed to pay finance charges of $809,644, for a total owed payment of $1,459,644. After making a number of monthly payments to Century Bank, to which Russo’s had assigned the contract, the Harrises sought to reduce the interest rate, with no agreement ultimately reached. The bank subsequently re-assigned the contract back to…