Bank One, Dayton, N.A. v. Doughman

The single issue in this appeal is whether a retail purchaser of consumer goods may, under R.C. 1317.031, assert against the financial institution that loaned money to the buyer for the purchase, the defense that the installment note provided for an excessive delinquent charge (in excess of three dollars, contrary to the provisions of R.C. 1317.06[B][2]), thus rendering the installment note unenforceable under R.C. 1317.08. We believe this point is one of first impression, and we hold that this specific defense may not be asserted by the retail buyer under the facts and circumstances…