B & D, Inc. of Miami v. E-Z Acceptance Corp.

HENDRY, Chief Judge.

This is an appeal by the plaintiff B & D, Inc. of Miami, from a final decree in favor of the defendant, E-Z Acceptance Corporation, in a suit for the cancellation of loans alleged to be usurious under § 687.07 Fla. Stat., F.S.A.

The sole issue before the chancellor was whether the relationship between the parties was that of borrower-lender or seller-purchaser. If the former, it is alleged that the transactions would be usurious and would require forfeiture of both the principal and interest under § 687.07, supra.

The parties submitted the case to the chancellor on…