Legal Opinion
Mangold v. Wilson
District Court, Virgin Islands
Decided September 16, 1988No. Civil No. 1987/70Published
1Opinion of the CourtO’Brien, Chief Judge
MEMORANDUM OPINION
Recipients of interest payments in excess of the maximum legal rate are strictly liable in the Virgin Islands to the payors for double the amount of interest paid,1 unless said payments are pursuant to a first priority mortgage greater than $100,000.2 These cross-motions for summary judgment require us to determine the applicability of various defenses involving respectively the theories of equity, estoppel, and assignment. Because we reject the viability of these defenses, and no other material facts are in dispute, judgment will be entered in favor of the payors.
I. PACTS
The…
2Cases cited11 opinions
- Houston Sash and Door Co., Inc. v. HeanerTexas Supreme Court · 1979
- Hammelburger v. Foursome Inn Corp.New York Court of Appeals · 1981
- Boniuk v. New York Medical CollegeDistrict Court, S.D. New York · 1982
- Bank of Nova Scotia v. BlochDistrict Court, Virgin Islands · 1982
- Daniel W. Zugelter and Ann C. Zugelter v. Bank of America National Trust Fund and Savings AssociationCourt of Appeals for the Third Circuit · 1984
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