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LAYNE v. TRANSAMERICA FINANCIAL SERVICES

No. 2 CA-CIV 5312.

146 Ariz. 559 (1985)

707 P.2d 963

Shields A. LAYNE, an unmarried man, Plaintiff/Appellant/Cross-Appellee, v. TRANSAMERICA FINANCIAL SERVICES, INC., an Arizona corporation and Pacific Finance Loans, Inc., a California corporation, Defendants/Appellees/Cross-Appellants.

Court of Appeals of Arizona, Division 2, Department A.

Review Denied October 8, 1985.

Attorney(s) appearing for the Case

Southern Arizona Legal Aid, Inc. by Charles R. Pyle, Tucson, for plaintiff/appellant/cross-appellee.

Streich, Lang, Weeks & Cardon by William S. Hawgood II and Randall S. Theisen, Phoenix, for defendants/appellees/cross-appellants.

OPINION

FERNANDEZ, Judge.

Appellant Layne appeals from an order dismissing his complaint for failure to state a claim. The complaint alleged that a loan transaction entered into June 5, 1981, between Layne and Transamerica Financial Services, Inc. was usurious because a prepaid finance charge of ten "points" was assessed in addition to the stated interest rate applicable to the unpaid balance. We find the transaction was not usurious and affirm the dismissal...

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