Court Opinion

ID: 9660976
Source: CourtListenerOpinion
Date Created: 2023-08-23 22:25:25.252963+00
Date Added: 2024-06-11T18:14:23.811654
License: Public Domain

Paul Ward, Associate Justice, concurring. I am concurring merely because I think the majority opinion went further than it was necessary to go in order to show there was no usury, and that consequently the opinion may possibly open the door to add to the present state of confusion relative to usury. I refer to the sentence which reads: “It was the finance company that exercised the forbearance, but it did not receive an extra $300 for doing so”. Our former opinions have made at least one thing clear about usury — that is, if a note is usurious in its conception it cannot be purged of usury by transfer to an innocent purchaser. So, it occurs to me that the opinion went far enough by citing the Ford v. Hancock case and then pointing out that the addition of $300 was merely a fraud and had none of the indicia of a charge for the forbearance of the use of money.