Legal Opinion
McGraw-edison Credit Corp. v. T. R. Axton, Sr. Corp.
Court of Appeals for the Ninth Circuit
Decided April 2, 1976No. 74-2344PublishedCited by 1 opinion
1Opinion of the Court
OPINION
Before WRIGHT and WALLACE, Circuit Judges, and SOLOMON,* District Judge. EUGENE A. WRIGHT, Circuit Judge:
This appeal involves the question whether the time price differential (TPD) of a commercial contract for sale and installation of restaurant equipment constituted usurious interest within the meaning of California law. In affirming the bankruptcy referee, the district court held that it did. We reverse.
The California courts have held consistently that the TPD of a conditional sales contract is not limited by the state usury laws. Milana v. Credit Discount Co., 27 Cal.2d 335, 163…
2Cases cited8 opinions
- DeMarco v. United StatesSupreme Court of the United States · 1974
- Milana v. Credit Discount Co.California Supreme Court · 1945
- Glaire v. La Lanne-Paris Health Spa, Inc.California Supreme Court · 1974
- Nat Yanish v. Bruce G. Barber, District Director of Immigration and Naturalization ServiceCourt of Appeals for the Ninth Circuit · 1956
- Burman v. Lenkin Const. Co.Court of Appeals for the D.C. Circuit · 1945
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3Cited by1 opinion
- Mcgraw-Edison Credit Corporation v. AxtonCourt of Appeals for the Ninth Circuit · 1976