Steffenauer v. Mytelka & Rose, Inc.

The opinion of the court was delivered

Plaintiff appealed from a summary judgment entered in favor of the defendant. The trial court’s opinion is reported in 87 N. J. Super. 506 (Ch. Div. 1965). We certified the appeal before the Appellate Division acted upon it.

The judgment is affirmed for the reasons given by the trial court. We add a word, however, with respect to plaintiff’s emphasis upon the fact that the so-called “credit service charge” of $2,730, which defendant’s agent described in his affidavit as “7% add-on,” actually averages out at 14% per year on the unpaid balance. This is true,…