The Judicial Misunderstanding Of California Usury Law
Law360, New York (May 9, 2014, 2:10 PM EDT) -- In its recent decision in Bisno v. Kahn, the California Court of Appeal for the First District held that agreements to forbear from enforcing judgments are not subject to California's usury law. Bisno further weakens a law that the California Supreme Court observed "is riddled with so many exceptions that the law's application itself seems to be the exception rather than the rule."
The underlying action in Bisno v. Kahn involved allegations of fraud in the sale of real estate limited partnership units. The plaintiffs in the underlying matter (the creditors) obtained judgments against defendant Robert H. Bisno in an amount...
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