Warren v. Darnell

Plaintiffs, William and Halleck Warren, filed a small claims action against defendants, James and Margaret Darnell, in the circuit court of Clinton County to recover monies allegedly owed by defendants under a contract for the sale of a membership in Hickory Shores Resort. Defendant Margaret Darnell denied that she was indebted to plaintiffs. She also brought a counterclaim in which she asserted that the contract violated section 226.8(b)(7) of Federal Reserve Board Regulation Z (12 C.F.R. §226.8(b)(7), reprinted in 15 U.S.C.A. foil. §1700 (West 1982)) promulgated pursuant to the Federal…