Legal Opinion
Foreign Commerce v. Bernard Tonn
Court of Appeals for the Third Circuit
Decided April 30, 1986No. 85-3048PublishedCited by 3 opinions
1Opinion of the Court
OPINION OF THE COURT
GARTH, Circuit Judge:
This appeal requires us to review Virgin Islands statutes, one of which prescribes the legal rate of interest, the other of which proscribes usury. We hold that the defense of usury was properly asserted by Tonn, the defendant/appellant here.
I
On March 20, 1978, appellant Bernard Tonn purchased sliding glass doors and windows from appellee Foreign Commerce, Inc. for a total purchase price of $1,640.20. When Tonn failed to pay the balance of the purchase price within the ten-day period provided by the purchase agreement, his account was assessed a IV2…
2Cases cited6 opinions
- Evans v. National Bank of SavannahSupreme Court of the United States · 1919
- State Ex Rel. Turner v. Younker Brothers, Inc.Supreme Court of Iowa · 1973
- Joseph Berkeley v. West Indies Enterprises, IncCourt of Appeals for the Third Circuit · 1973
- W. E. Daniel and E. A. Dillard v. The First National Bank of BirminghamCourt of Appeals for the First Circuit · 1956
- Gilmore & Smith v. Ferguson & CassellSupreme Court of Iowa · 1869
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- People v. SimmondsSuperior Court of The Virgin Islands · 2012
- H. E. Lockhart Management, Inc. v. HughesSupreme Court of The Virgin Islands · 1999
- Foreign Commerce v. Bernard TonnCourt of Appeals for the Third Circuit · 1986