Interesting question, and technically correct answer is "Yes, the lawyers on both sides of all the reported legal decisions on usury have had actual courtroom experience on it".
Quote: Interesting question, and technically correct answer is "Yes, the lawyers on both sides of all the reported legal decisions on usury have had actual courtroom experience on it".
What are you really wanting to know?
Hi, John, I guess my question was pretty vague . I'm in Alabama. There are limits on fees charged for loans stated in the Code. I've read the laws. They appear to say that yes, there is a limit to interest, but someone may accept the interest and it won't be userious. It appears that the Court has the authority to judge each case. I was looking for anyone with examples of a situation involving specific usury case(s).
Also, I would like to know how to research case law history so I can find some examples myself. I know there is a Law Library close by, but haven't a clue how to look up cases based on the type of case.
I'm an Alabama as well, and there have been several cases of usery that have drifted through our courts over the past few years...You might want to look more in the direction of car businesses, to be more specific buy-here, pay-here type lots...There have been several cases in the past with car dealers charging more than our safety rate of 28% and getting charged with usery.
Secondly, it's not at all hard to go over to your closest courthouse law library and have the librarian show you the AL annotated statutes.
Once you're in the statutes, use the index to find usury, then look at the statutes and the case decisions are going to be found right under those statutes.
You'll be the authority on AL usury in a little while, and you'll owe me a tall beer for all this expensive education...which, I gotta tell you, is more than I learned in some of my lawschool classes.
Interesting question, and technically correct answer is "Yes, the lawyers on both sides of all the reported legal decisions on usury have had actual courtroom experience on it".
What are you really wanting to know?
Quote: Interesting question, and technically correct answer is "Yes, the lawyers on both sides of all the reported legal decisions on usury have had actual courtroom experience on it".
. I'm in Alabama. There are limits on fees charged for loans stated in the Code. I've read the laws. They appear to say that yes, there is a limit to interest, but someone may accept the interest and it won't be userious. It appears that the Court has the authority to judge each case. I was looking for anyone with examples of a situation involving specific usury case(s).
What are you really wanting to know?
Hi, John, I guess my question was pretty vague
Also, I would like to know how to research case law history so I can find some examples myself. I know there is a Law Library close by, but haven't a clue how to look up cases based on the type of case.
Any help would be appreciated.
Terry
Terry,
I'm an Alabama as well, and there have been several cases of usery that have drifted through our courts over the past few years...You might want to look more in the direction of car businesses, to be more specific buy-here, pay-here type lots...There have been several cases in the past with car dealers charging more than our safety rate of 28% and getting charged with usery.
Jay C.
Birmingham, AL
Hey you guys, first it's USURY.
Secondly, it's not at all hard to go over to your closest courthouse law library and have the librarian show you the AL annotated statutes.
Once you're in the statutes, use the index to find usury, then look at the statutes and the case decisions are going to be found right under those statutes.
You'll be the authority on AL usury in a little while, and you'll owe me a tall beer for all this expensive education...which, I gotta tell you, is more than I learned in some of my lawschool classes.
JohnMerchant, I always enjoy reading your advice.
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LOK, thanks for the kind words, and man have I got a nice Eifel Tower for you to buy ;+)
Many thanks Jay and John
. I'm off to the Law Library!
Terry
JM: The stand-up legal comic. :-D
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