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CREDIT FINANCE SERVICE v. ABLE

No. 1878.

127 A.2d 396 (1956)

CREDIT FINANCE SERVICE, Inc., a corporation, Appellant, v. Charles D. ABLE, Jr., and Ida C. Able, Appellees.

Municipal Court of Appeals for the District of Columbia.

Decided December 6, 1956.

Attorney(s) appearing for the Case

Joseph Luria, Washington, D. C., with whom William R. Lichtenberg and Frank Paley, Washington, D. C., were on the brief, for appellant

Edward L. Genn, Washington, D. C., for appellees.

Before HOOD and QUINN, Associate Judges, and CAYTON (Chief Judge, Retired), sitting by designation under Code, § 11-776(b).

CAYTON, Acting Judge.

This case involves the rights and liabilities of a lender who has charged excessive interest under a Maryland small loan statute which declares that such overcharge renders the loan contract void.

Appellant Credit Finance Service loaned $300 to Mr. and Mrs. Able and took their note bearing interest at 3 per cent per month, as permitted by the Maryland statute. After making five payments borrowers complained to lender that excessive interest...

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