Legal Opinion
Kass v. Garfinckel, Brooks Bros., Miller & Rhoads, Inc.
District of Columbia Court of Appeals
Decided January 24, 1973No. 6719PublishedCited by 14 opinions
1Opinion of the Court
REILLY, Chief Judge:
The issue in this case is whether a retail merchant may enforce a revolving charge account agreement with a customer, the terms of which require payment of one and one-half (U/i) percent per month on balances remaining unpaid after the first billing cycle for goods purchased on credit. As this monthly rate computed on an annual basis amounts to 18%, such rate, if interest, is obviously in excess of the eight (8) percent limit placed on written contracts for the payment of money by the District of Columbia usury statutes in force at the time this action was commenced. 1
Appel…
2Cases cited9 opinions
- State v. J. C. Penney Co.Wisconsin Supreme Court · 1970
- Dennis v. Sears, Roebuck & CompanyTennessee Supreme Court · 1969
- Sliger v. RH MacY & Co., Inc.Supreme Court of New Jersey · 1971
- Uni-Serv Corp. of Mass. v. Commissioner of BanksMassachusetts Supreme Judicial Court · 1965
- Morris v. Capitol Furniture & Appliance Co.District of Columbia Court of Appeals · 1971
4 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Rathbun v. WT Grant CompanySupreme Court of Minnesota · 1974
- State Ex Rel. Turner v. Younker Brothers, Inc.Supreme Court of Iowa · 1973
- Johnson v. Sears Roebuck & Co.Appellate Court of Illinois · 1973
- Fox v. Federated Department Stores, Inc.California Court of Appeal · 1979
- Acker v. Provident National BankCourt of Appeals for the Third Circuit · 1975
9 more not listed; retrieve them via the Exa API.