CopyCited 1 times | Published | Florida 1st District Court of Appeal | 1973 Fla. App. LEXIS 7066
...dividual stockholders. Each of the foregoing items are found in the instant cause. So, we must conclude that the General Capital Corp . case is a compelling and controlling precedent for the case at bar. The last matter which we need to discuss is F.S. 520.38, F.S.A. MCC contends that even if the instant transactions and loans and the interest rate extracted are usurious, that F.S. 520.38, F.S.A. renders the usury laws of this State inapplicable to transactions such as those involved in the case at bar. Section 520.38, Florida Statutes, F.S.A., provides that a retail seller may assign, pledge, hypothecate or otherwise transfer a retail installment contract to any person on such terms and conditions and for such price as may be mutually agreed upon....
...Further, the trial court utilized an erroneous test as to the question of "usurious intent". The proofs adduced by Dunn were sufficient to impeach the transactions on the ground that they were tainted with the elements of usury. In addition, we have found that F.S. 520.38, F.S.A....
