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Compensatory Rate Of Interest

Compensatory Rate Of Interest

Cs sought interest that is statutory the contractual price charged by D (29% every month); the Judge rejected Cs’ first rationale (that it was the price C had to spend to borrow funds) and stated this method must be limited to commercial situations.

224: Cs’ second argument had been that Cs might have utilized the surplus funds to settle other HCST loans – there could be more merit to that particular argument, however it could be better explored regarding the facts of a specific situation. (more…)