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What? Me Worry?

Understanding state licensing and usury laws is crucial to avoid criminal penalties, forfeiting interest, paying penalties, damages, and becoming highly visible. This agreement covers rates, transaction size, protection, choice of law, forum selection, and usury savings clause. Contact us for expert legal advice.

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What? Me Worry?

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  1. What? Me Worry? State Licensing & Usury Laws

  2. forfeit interest pay a penalty forfeit principal and interest pay damages become highly visible CRIMINAL PENALTIES

  3. Consumer v. Business

  4. Criminal v. Civil Rates

  5. Equipment Type

  6. SIZE OF TRANSACTION

  7. PROTECTION? Lease or Loan? Retail Installment Sale?

  8. PROTECTION? Choice of Law: This Agreement shall be governed by and construed according to the laws of the State of ______________ Forum Selection:The parties hereby consent to jurisdiction in the County of _________, State of __________ for litigation of all disputes under or in connection with this Agreement and waive any defense of inconvenient venue.

  9. PROTECTION? Usury Savings Clause: No amount payable hereunder as interest shall exceed the highest rate permitted by applicable law and to the extent necessary to comply with this sentence, any excess interest collected shall be deemed a prepayment of principal.

  10. What? Me Worry?

  11. Barry S. MarksMarks & Weinberg, P.C.505 North 20th Street Financial Center Suite 1615Birmingham, AL 35202Direct: (205) 251-8301Email: barry@leaselawyer.comwww.leaselawyer.com

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