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MOHR, INC. v. BANK OF CALIFORNIA

Civ. No. 75-420.

443 F.Supp. 370 (1978)

MOHR, INC., an Oregon Corporation, Plaintiff, v. The BANK OF CALIFORNIA, N. A., a National Banking Association, Defendant. The BANK OF CALIFORNIA, N. A., a National Banking Association, Third-Party Plaintiff, v. Ronald E. MOHR et al., Third-Party Defendants.

United States District Court, D. Oregon.

January 11, 1978.

Attorney(s) appearing for the Case

Henry A. Carey, Portland, Or., for plaintiff Mohr, Inc. and third-party defendant Ronald E. Mohr.

Leigh D. Stephenson, Portland, Or., for defendant and third-party defendant.

OPINION

JAMES M. BURNS, District Judge.

The issue in this usury case is whether or not a bank can aggregate outstanding loans in amounts less than $50,000 advanced to a corporation pursuant to a line of credit, so that the aggregate debt can constitute "a loan or use of money involving a principal amount over $50,000" on which the bank can charge any interest.

Plaintiff Mohr, Inc. (Company)

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