Legal Opinion
Gillivan v. Austin
District Court, Virgin Islands
Decided August 21, 1986No. Civil No. 1985/136PublishedCited by 1 opinion
1Opinion of the Court
MEMORANDUM OPINION AND ORDER
This case mandates a most inequitable result: is an individual lender who innocently asks for more interest than the maximum legal rate fully subject to the quasi-criminal penalties for usury? With reluctance, we must answer affirmatively.
*351I. FACTS
Michael S. Gillivan (“Gillivan”) is a self-employed builder and repairer of boats and motors, who also makes native crafts for sale in a small store in downtown Christiansted, managed by his wife Norma Gillivan. He has a high school education. He met defendant Cuther H. Austin (“Austin”) in 1977 and arranged to lease…
2Cases cited29 opinions
- Allied Chemical Corporation v. Jack MacKay D/B/A MacKay Farms Ltd.Court of Appeals for the Fifth Circuit · 1983
- Liebergesell v. EvansWashington Supreme Court · 1980
- Lloyd v. ScottSupreme Court of the United States · 1830
- Evans v. National Bank of SavannahSupreme Court of the United States · 1919
- Freitas v. Geddes Savings & Loan Ass'nNew York Court of Appeals · 1984
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3Cited by1 opinion
- Mangold v. WilsonDistrict Court, Virgin Islands · 1988