Business loan penalty was ‘unconscionable,’ judge says

By Peter Vieth
Published: May 31, 2010

Tags: Contract, Fairfax County Circuit Court, Judge Charles James Maxfield, Judge Jane Marum Roush

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 ...

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