CREDIT ALLIANCE CORP. v. ADAMS CONST. CORP.


570 S.W.2d 283 (1978)

CREDIT ALLIANCE CORPORATION, Movant, v. ADAMS CONSTRUCTION CORPORATION, etc., et al., Respondents.

Supreme Court of Kentucky.

August 22, 1978.


Attorney(s) appearing for the Case

J.K. Wells, Wells, Porter & Schmitt, Paintsville, for movant.

John David Preston, Perry & Preston, Paintsville, for respondents.


REED, Justice.

The decisive issue in this case is whether a creditor who invokes an acceleration clause in a security agreement may recover unearned interest or finance charges. The trial court held that the debtor, who had defaulted in making timely installment payments and against whom acceleration had been invoked, was not liable for unearned finance charges.

The creditor appealed to the Court of Appeals. Declaring...

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