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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

301 Ocean Avenue Corp. v. Santa Monica Rent Control Board, 175 Cal. App. 3d 149 (1985)

Citation
301 Ocean Avenue Corp. v. Santa Monica Rent Control Board, 175 Cal. App. 3d 149 (1985)
Parent Document
301 Ocean Avenue Corp. v. Santa Monica Rent Control Board, 175 Cal. App. 3d 149 (1985)
Jurisdiction
California (state)
Effective Date
1985-10-22

Other Sections in This Document (83)

Full Text

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We deem this to be a harsh penalty since it is the equivalent of more than 60 percent per year when one considers that each month’s interest payment is based on the previous month’s principal balance plus all previously unpaid interest amounts. One need only reflect for a moment to realize the furor that would be raised if a lending institution were to charge similar rates. 3