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BEACH ASSOCIATES, INC. v. FAUSER

9 Mass. App. Ct. 386 (1980)

401 N.E.2d 858

BEACH ASSOCIATES, INC. & others vs. PETER J. FAUSER & others.

Appeals Court of Massachusetts, Berkshire.

March 18, 1980.

Attorney(s) appearing for the Case

Roland E. Shaine for the plaintiffs.

William A. Darrin, Jr., for the defendants.

David O. Burbank, for Albert S. Silverman, intervener.

Present: ARMSTRONG, ROSE, & PERRETTA, JJ.

PERRETTA, J.

The plaintiff borrowers brought an action in the Superior Court pursuant to G.L.c. 271, § 49(c), requesting that the judge declare void a loan which they obtained from the defendant lenders. The defendants extended this loan at a rate of interest which exceeded the limit established by G.L.c. 271, § 49(a). The judge declined to void the loan and entered a judgment reforming the mortgage note by reducing the stated interest rate...

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