Legal Opinion
Mohr, Inc. v. Bank of California, N. A.
District Court, D. Oregon
Decided January 11, 1978No. Civ. No. 75-420PublishedCited by 2 opinions
1Opinion of the Court
OPINION
JAMES M. BURNS, District Judge.
The issue in this usury case is whether or not a bank can aggregate outstanding loans in amounts less than $50,000 advanced to a corporation pursuant to a line of credit, so that the aggregate debt can constitute “a loan or use of money involving a principal amount over $50,000” on which the bank can charge any interest.
*371Plaintiff Mohr, Inc. (Company)1 commenced this action pursuant to the National Bank Act, 12 U.S.C. § 86 (1970) alleging usury and seeking to recover twice the amount of interest it paid to defendant The Bank of California, N. A. (Bank) on…
2Cases cited5 opinions
- Roschen v. WardSupreme Court of the United States · 1929
- Federal Deposit Ins. Corporation v. TremaineCourt of Appeals for the Second Circuit · 1943
- Citizens & Southern South DeKalb Bank v. WatkinsSupreme Court of Georgia · 1976
- Irving Trust Company v. SmithDistrict Court, S.D. New York · 1972
- Sparkman & McLean Income Fund v. WaldCourt of Appeals of Washington · 1974
3Cited by2 opinions
- American Timber & Trading Co. v. First National BankCourt of Appeals for the Ninth Circuit · 1982
- American Timber & Trading Co. v. First National Bank Of OregonCourt of Appeals for the First Circuit · 1982