Feller v. Architects Display Buildings, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• finding default interest rate of 32.87% “clearly unconscionable and unenforceable as a penalty”
• it is not illegal to provide for a higher rate of interest after maturity, but if such rate is unconscionably high, it will be unenforceable because it amounts to penalty
• interest rate of 15.87% before default and 32.87% after default
• “It is the general rule in the case of a corporate borrower that it is not illegal to provide for a higher rate of interest than the legal rate after maturity, but if such rate is unconscionably high it will be unenforceable because it amounts to a penalty.”
• invalidating 15.87% increase to 32.87% default interest
• unconscionably high interest is penalty

Source: CourtListener parenthetical corpus (CC0).