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SLIGER v. R.H. MACY & CO., INC.

59 N.J. 465 (1971)

283 A.2d 904

DORIS M. SLIGER, MARIE PRICE, AND EDWARD CHESLER, INDIVIDUALLY AND AS REPRESENTATIVES OF THE CITIZENS AND TAXPAYERS OF THE STATE OF NEW JERSEY, AND ALL OTHERS SOJOURNING THEREIN, PLAINTIFFS-APPELLANTS, v. R.H. MACY & CO., INC., A CORPORATION OF THE STATE OF NEW YORK, t/a BAMBERGER'S DEFENDANT-RESPONDENT.

The Supreme Court of New Jersey.

October 12, 1971.

Decided December 6, 1971.

Attorney(s) appearing for the Case

Mr. Sanford Schneider argued the cause for plaintiffs-appellants (Mr. A. Robert Rothbard and Messrs. DeRose, Serratelli & Schneider, attorneys; Mr. Sanford Schneider on the brief).

Mr. Theodore L. Abeles argued the cause for defendant-respondent (Messrs. Lum, Biunno & Tompkins, attorneys; Mr. Theodore L. Abeles on the brief).

The opinion of the Court was delivered PER CURIAM.

The sole issue before us is whether the general usury statute, N.J.S.A. 31:1-1, applies to the 1 1/2% per month service or finance charge on revolving charge accounts of defendant, R.H. Macy & Co., Inc., t/a Bamberger's [Bamberger's], a retail department store.

The plaintiffs, customers of Bamberger's, seek to restrain it from charging interest on their revolving charge accounts in excess of the...

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