(Download) "Thornton v. Victor Meat Co." by First Appellate District, Division One Court of Appeal of California * Book PDF Kindle ePub Free
eBook details
- Title: Thornton v. Victor Meat Co.
- Author : First Appellate District, Division One Court of Appeal of California
- Release Date : January 27, 1968
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 80 KB
Description
Plaintiffs appeal from judgments on the pleadings rendered in favor of defendant and cross-complainant Budget Financial Corporation ("Budget"). In this opinion we consider whether a loan made by a personal property broker to a home builder is void as usurious because the security upon which the lender relied consists of notes secured by deeds of trust which represent a portion of the purchase price of homes sold by the borrower. The complaints allege: On August 1, 1963, Budget, a licensed personal property broker, made a loan to plaintiffs Moody-McCloud, et al., ("the borrowers") of $59,567.76 bearing interest at the rate of 12 percent per year and secured by a chattel mortgage covering furniture and furnishings having a value of less than $1,500, an assignment of promissory notes secured by second deeds of trust on real property, and an assignment of the payments due on the assigned notes. The notes represented a portion of the sales price of houses sold by the borrowers in the course of
 "Thornton v. Victor Meat Co." by First Appellate District, Division One Court of Appeal of California * Book PDF Kindle ePub Free){kind=link}