Legal Opinion
Foreign Commerce, Inc. v. Tonn
District Court, Virgin Islands
Decided December 28, 1984No. Civil No. 83/343PublishedCited by 2 opinions
1Opinion of the CourtO’Brien, Judge
MEMORANDUM OPINION AND ORDER
This appeal from the Territorial Court presents the question of whether a one and one-half percent (1 1/2%) monthly service charge added to the outstanding balance on a consumer account is usurious in violation of 11 V.I.C. § 951 et seq. In the action for debt below, the Court awarded plaintiff-appellee Foreign Commerce, Inc. (Foreign Commerce) $2,676.27 plus costs and attorney’s fees. Defendant-appellant Bernard Tonn (“Tonn”) appeals the denial of his counter-claim wherein he claimed that the 1 1/2% monthly service charge was in actuality an 18% interest rate, and…
2Cases cited13 opinions
- Commercial Credit Co. v. TarwaterSupreme Court of Alabama · 1926
- Hogg v. RuffnerSupreme Court of the United States · 1861
- Evans v. National Bank of SavannahSupreme Court of the United States · 1919
- W. E. Daniel and E. A. Dillard v. The First National Bank of BirminghamCourt of Appeals for the First Circuit · 1956
- Zachary v. R. H. Macy & Co.New York Court of Appeals · 1972
8 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Foreign Commerce v. Bernard TonnCourt of Appeals for the Third Circuit · 1986
- Foreign Commerce v. Bernard TonnCourt of Appeals for the Third Circuit · 1986