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EQUIP. FINANCE, INC. v. GRANNAS et al.

207 Pa.Super. 363 (1966)

Equipment Finance, Inc. v. Grannas et al., Appellants.

Superior Court of Pennsylvania.

March 24, 1966.

Attorney(s) appearing for the Case

T. Dean Lower, for appellants.

Martin Goodman, with him Alexander A. Notopoulos, and Goodman & Notopoulos, for appellee.

Before ERVIN, P.J., WRIGHT, WATKINS, MONTGOMERY, JACOBS, and HOFFMAN, JJ. (FLOOD, J., absent).

OPINION BY JACOBS, J., March 24, 1966:

The narrow point of law presented in this appeal is whether or not the Usury Statute applies to a sale of heavy machinery on credit when a finance company, in good faith and for value, purchases from the seller of the machinery the security agreement and accompanying note given by the buyer to the seller.

Equipment Finance, Inc., hereinafter called "Finance Co.", sued Chester E. Grannas and Paul A. Grannas, trading as...

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