California Court Holds a Promissory Note Written by a CFL Lender is Exempt from Usury Laws
Section 1 of Article XV of the California Constitution imposes usury limitation on “loan or forbearance of any money, goods, or things in action...” This case involved loans made by a holder of California Finance Lender (CFL) license, under Section 22002 of the California Finance Code. This court held that a note issued by a CFL license holder is exempt from usury restrictions.
Contributor
About
I am a litigation lawyer, licensed to practice law in the State of California. You can reach me by phone at (310) 286-2000.
I am a litigation lawyer, licensed to practice law in the State of California. You can reach me by phone at (310) 286-2000.
Categories
- Articles 313
- Bankruptcy 44
- Business 135
- Cases & Codes 68
- Contracts 27
- Criminal Law 122
- Employment 24
- Expert Reports 3
- Expert Witness 34
- Family Law 58
- Form Letters 15
- Immigration 3
- Intellectual Prop 32
- Internet Law 10
- Law Practice 99
- Law School 2
- Legal Research 19
- Litigation 186
- Miscellaneous 64
- PR Web 41689
- Personal Injury 609
- Press Release 43
- Probate 54
- Real Estate 68
- Tax Law 23
- Workers Comp 4