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RADFORD v. COMMUNITY MORTG. AND INV. CORP.

Record No. 810464.

312 S.E.2d 282 (1984)

Ronald D. RADFORD and Ginger T. Radford v. COMMUNITY MORTGAGE AND INVESTMENT CORPORATION, John J. Brennan and Ralph J. Wolfe.

Supreme Court of Virginia.

January 20, 1984.

Attorney(s) appearing for the Case

Howard E. Copeland, Virginia Beach (Howard E. Copeland, P.C., Virginia Beach, on brief), for appellants.

A. Andrew Ege, Jr., Virginia Beach (Brydges, Hudgins, Ege, Burt & O'Brien, Virginia Beach, on brief), for appellees.

Before CARRICO, C.J., COCHRAN, POFF, COMPTON, STEPHENSON and RUSSELL, JJ., and GORDON, Retired Justice.

RUSSELL, Justice.

The dispositive question in this case is whether a loan was exempt from the usury laws because it was made for "the conduct of business," an exception to the usury laws created by Code § 6.1-330.44. The answer requires an examination of the circumstances surrounding the making of the loan.

Ronald D. Radford operated a sole proprietorship in Virginia Beach known as "Radford Wallcovering." His wife, Ginger T. Radford, had no ownership...

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