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ROSS v. BARNETT

No. 82-854.

422 So.2d 1040 (1982)

Sol M. ROSS, As Trustee of David Scott Ross and Jo Anne Ross Trust, Appellant, v. Steve M. BARNETT and Lois M. Ross, As Trustees of the Barnett Family Trust, Appellees.

District Court of Appeal of Florida, Third District.

November 30, 1982.

Attorney(s) appearing for the Case

Susan G. Chopin, West Palm Beach, for appellant.

Paul R. Lipton, North Miami Beach, for appellees.

Before HENDRY, FERGUSON and JORGENSON, JJ.

FERGUSON, Judge.

Section 687.03(5)(a), Florida Statutes (1979) which raised the legal interest rate ceiling from 10% to 18% has retroactive application to loans made prior to July 1, 1979, where by terms of the contract the lender has the legal right to adjust the interest rate.1 U.P.C., Inc. v. Intercontinental Bank, 410 So.2d 554 (Fla. 3d DCA 1982). The $75,000 promissory note in this case,...

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