Legal Opinion

Island Block Corp. v. Webster

Supreme Court of The Virgin Islands

Decided February 22, 1980No. Civil No. 772/1979Published

1Opinion of the CourtFeuerzeig, Judge

MEMORANDUM OPINION AND ORDER

Before the court for determination is the validity of a stipulation in a credit agreement for a fixed percentage of the sum due as collection costs.1 The plaintiff, Island Block Corporation, and the defendant, Thomas Webster, on March 23, 1973 entered a licensed contractor’s credit agreement. The agreement extends the defendant credit on an open account for purchases from the plaintiff. The provision in the agreement that concerns the court states:

Should this account become overdue and should it become necessary for Island Block Corporation to turn the account over…

2Cases cited10 opinions

Michael-Regan Co. v. LindellCourt of Appeals for the Ninth Circuit · 1975
Hector Avila Estien, an Infant by His Next Friend, Mariano Estien v. Clifford ChristianCourt of Appeals for the Third Circuit · 1975
Granite Equipment Leasing Corp. v. HuttonWashington Supreme Court · 1974
Zambruk v. Perlmutter 3rd Generation Builders, Inc.Colorado Court of Appeals · 1973
EAC Credit Corporation v. WilsonSupreme Court of North Carolina · 1972

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