Carter v. Credithrift of America, Inc.

Quillian, Presiding Judge.

This appeal was taken from the denial of defendant’s motion to set aside a default judgment. It is contended that the loan contract on which suit was brought violated the provisions of the Industrial Loan Act, Code Ann. § 25-319 (Ga. L. 1955, pp. 431, 444) by failing to disclose "the amount of each class of insurance carried and the premiums paid thereon.” Held:

The contract in question revealed the premium charged for the insurance but not the amount of each class of insurance carried. Hence, there appears a clear violation of the statute which requires the grant of…