Aetna Finance Co. v. Pasquali

OPINION

CONTRERAS, Judge.

In this case of first impression in Arizona, appellants seek review of the question of whether they may assert a recoupment defense under the Truth-In-Lending Act after the statute of limitations has run for affirmative claims under the Act. We hold that they may not, and therefore affirm the granting of summary judgment for appellee.

In April, 1976, appellants executed a promissory note payable to appellee. Appellants subsequently defaulted and appellee filed a complaint for the balance due on the note alone with costs and attorney’s fees. Appellants’ answer and…