Legal Opinion
American Timber & Trading Co. v. First National Bank of Oregon
Court of Appeals for the Ninth Circuit
Decided November 20, 1973No. 72-1066PublishedCited by 15 opinions
1Opinion of the Court
CHOY, Circuit Judge:
Plaintiffs American Timber and Trading Co. (AT&T) and Lawrence Bernard and Dr. Lawrence Bernard, P.C. (Bernard) brought this class action claiming that the First National Bank of Oregon (the bank) charged usurious interest rates and thereby violated 12 U.S.C. §§ 85, 86.
The bank charged individual and corporate borrowers the Oregon statutory limits of interest at the rates of 10% and 12% per annum respectively for a 365 day year (ORS 82.010), but computed such interest on the basis of a 360 day year (365/360 method).1 By using this method, the aetal interest rates for a…
2Cases cited12 opinions
- Linkletter v. WalkerSupreme Court of the United States · 1965
- Chevron Oil Co. v. HusonSupreme Court of the United States · 1971
- Hanover Shoe, Inc. v. United Shoe MacHinery Corp.Supreme Court of the United States · 1968
- United States v. International Minerals & Chemical Corp.Supreme Court of the United States · 1971
- Simpson v. Union Oil Co. of Cal.Supreme Court of the United States · 1969
7 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Luverne L. Anderson and Josephine Rodriguez v. Allstate Insurance Company, a California Corporation, DefendantsCourt of Appeals for the Ninth Circuit · 1980
- Faythe S. Takahashi and Hideo H. Takahashi v. Loomis Armored Car Service, and Liberty Mutual Insurance CompanyCourt of Appeals for the Ninth Circuit · 1980
- Clark v. MusickCourt of Appeals for the Ninth Circuit · 1980
- O'Brien v. Shearson Hayden Stone, Inc.Washington Supreme Court · 1978
- Marquette Nat. Bank v. First Nat. Bank of OmahaDistrict Court, D. Minnesota · 1976
10 more not listed; retrieve them via the Exa API.