SOUTHWEST CONCRETE PRODUCTS v. GOSH CONSTRUCTION CORP.

Docket No. S012846.

51 Cal.3d 701 (1990)

798 P.2d 1247

274 Cal. Rptr. 404

SOUTHWEST CONCRETE PRODUCTS, Plaintiff, Cross-defendant and Appellant, v. GOSH CONSTRUCTION CORPORATION et al., Defendants, Cross-complainants and Appellants; ARMCO, INC., Cross-defendant and Appellant.

Supreme Court of California.

November 1, 1990.


Attorney(s) appearing for the Case

COUNSEL

Feldsott & Lee and Martin L. Lee for Cross-defendant and Appellant.

Robert L. Kern for Plaintiff, Cross-defendant and Appellant.

Joseph M. Loomis as Amicus Curiae on behalf of Plaintiff, Cross-defendant and Appellant.

Jones, Mahoney & Brayton, Paul M. Mahoney and Richard A. Soll for Defendants, Cross-complainants and Appellants.


OPINION

PANELLI, J.

We granted review in this matter to resolve a conflict among the Courts of Appeal on the issue of whether a provision in a commercial sales contract which calls for interest of 18 percent per year on late payments violates the usury law. Although the petition for review had raised other issues as well, our order limited review to the usury question.

We conclude that interest payments on overdue commercial...

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