Pollard v. Congress Finance Corp.

Carley, Judge.

Having defaulted on his loan payments due pursuant to a note executed by him in favor of appellee under the Georgia Industrial Loan Act (Code Ann. Ch. 25-3), appellant now appeals from a judgment awarding appellee the balance due under the note. He asserts that the note contained an acceleration clause which provided for excessive charges in violation of the Act, causing the loan to be usurious and, therefore, null and void. The clause in question states that "[d]efault in the payment of any installment, in whole or in part . . . will render the entire balance of this Note, less…