Centennial Associates, Ltd. v. Clark

I dissent. Respectfully, I say that the majority's definitions of "creditor," "finance charge" and "consumer" make about as much sense as someone defining "illegal" to mean a "sick bird."

Section 5-19-3 provides that the maximum finance charge for any loan ". . . may not exceed the greater of the following. . . ."

Section 5-49-1 defines "finance charge:"

"(1) FINANCE CHARGE. Such term shall include all charges payable directly or indirectly by the debtor and imposed directly or indirectly by the creditor as an incident to the extension of credit, including interest, time price differential,…