PLAN INVESTMENTS OF NEW ORLEANS, INC. v. FIFFIE

No. 12064.

405 So.2d 1094 (1980)

PLAN INVESTMENTS OF NEW ORLEANS, INC. v. Rosemary Harris, wife of/& Alvin FIFFIE.

Court of Appeal of Louisiana, Fourth Circuit.

October 13, 1980.


Attorney(s) appearing for the Case

David S. Willenzik, New Orleans, for Plan Investments of New Orleans, Inc., plaintiff-appellant.

Leonard K. Fisher, Jr., Boutte, for Rosemary Harris, wife of/& Alvin Fiffie, defendant-appellee.

Before BOUTALL, CHEHARDY and KLIEBERT, JJ.


BOUTALL, Judge.

This appeal raises the issue of whether the interest charged on a loan secured by a mortgage on immovable property is usurious, dependent upon the applicability of R.S. 9:3503, Civil Code Art. 2924, or R.S. 9:3510 et seq., the Louisiana Consumer Credit Law. The trial court held that the provisions of R.S. 9:3503, relating particularly to mortgages on immovable property, applied, forfeited the entire interest and awarded plaintiff only the unpaid principal...

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