[DOWNLOAD] "Fletcher v. Security Pacific National Bank" by Supreme Court Of California ~ Book PDF Kindle ePub Free
eBook details
- Title: Fletcher v. Security Pacific National Bank
- Author : Supreme Court Of California
- Release Date : January 28, 1979
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 77 KB
Description
[23 Cal3d Page 445] Two years ago, in Chern v. Bank of America (1976) 15 Cal. 3d 866 [127 Cal. Rptr. 110, 544 P.2d 1310], our court determined that the industry-wide banking practice of computing so-called ""per annum"" interest rates on the basis of a 360-day year constituted an unfair trade practice under Business and Professions Code section 17500.2 We concluded that the practice as such, could, and should, be enjoined. In the instant case, instituted several years prior to our Chern decision, plaintiff challenged an identical practice of interest computation by [23 Cal3d Page 446] another bank. Plaintiff sought, on behalf of himself and other similarly situated borrowers, restitution of the sums obtained through the use of this unfair business practice and damages for breach of contract and violation of the unfair trade practice statutes.
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