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Mcconnell V. Lynch

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eBook details

  • Title: Mcconnell V. Lynch
  • Author : Supreme Court Of California
  • Release Date : January 30, 1978
  • Genre: Law,Books,Professional & Technical,
  • Pages : * pages
  • Size : 67 KB

Description

Plaintiffs filed a class action against defendant brokerage firm. They alleged, first, that defendant unlawfully charged compound interest on the debit balance in margin accounts without a clear written agreement authorizing the compounding of interest as required by section 2 of the Usury Law. Finding that defendant's customer's agreement complied with the requirements of section 2, the trial court sustained defendant's demurrer to this charge without leave to amend.


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