LAYTON v. LIBERTY LOANS OF WAYCROSS

58252.

152 Ga. App. 504 (1979)

263 S.E.2d 167

LAYTON et al. v. LIBERTY LOANS OF WAYCROSS.

Court of Appeals of Georgia.

Decided September 24, 1979.

Rehearing Denied November 26, 1979.


Attorney(s) appearing for the Case

Rudolph J. Chambless, for appellants.

Dennis J. Strickland, Sr., for appellee.

Charles M. Baird, John C. Porter, Jr., amicus curiae.


CARLEY, Judge.

In August 1977 the appellee filed suit against appellants on a 36-month note governed by the Industrial Loan Act (ILA). Appellants failed to answer and, on October 31, 1977, a default judgment was entered against them. On March 16, 1979, appellants moved to set aside the default on the ground that interest had been included in the computational base used to calculate the loan fee, in violation of the ILA...

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