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MALLET v. MAGGIO

No. CA 85 1378.

503 So.2d 37 (1986)

Jay Lee MALLET, et al. v. John P. MAGGIO, et al.

Court of Appeal of Louisiana, First Circuit.

Rehearing Denied February 19, 1987.

Writ Denied April 20, 1987.

Attorney(s) appearing for the Case

Roy F. Cangelosi, Baton Rouge, for plaintiff-appellee Jay Lee Mallet, et al.

Amy Counce, Baton Rouge, for defendant-appellee John P. Maggio, et al.

Thomas K. Kirkpatrick, Baton Rouge, for third-party defendant L.A. Hawkins.

Before EDWARDS, WATKINS and Le BLANC, JJ.

Le BLANC, Judge.

The issue in this case is whether a real estate broker who arranged an owner-financed sale had a duty to inform the owners that the interest rate provided for in the Act of Sale was usurious.

In 1981, L.A. Hawkins, a real estate broker, was engaged by John and Patricia Maggio to sell a mobile home and lot they owned. Believing it would be difficult for a buyer to finance the purchase price asked at a bank, Hawkins suggested the Maggios

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