Quantcast
Home / News Stories / Business loan penalty was ‘unconscionable,’ judge says (access required)

Business loan penalty was ‘unconscionable,’ judge says (access required)

A Fairfax County judge has ruled a penalty clause of $300 a day in a business loan was unconscionable and unenforceable despite the fact that state usury laws did not apply to the loan. The ruling came in a dispute between a residential developer and a landowner who sold a site in Annandale, according to the ...

Leave a Reply