Dean v. Avco Financial Services, Inc.

Deen, Judge.

The sole contention of the appellants in this action for money judgment against them based on a renewal loan made by the finance company operating under the Industrial Loan Act is that the copy of the loan contract issued to the borrowers at the time of renewal does not meet the requirements of Code Ann. § 25-319. It was held in Colter v. Consolidated Credit Corp., 116 Ga. App. 520 (157 SE2d 812) that the burden is on the lender to show full compliance with the terms of the Act, otherwise the transaction is void. In Colter there were violations of Code Ann. § 25-319 in that no…