SmartBrief
Confirm favorite deletion?
Banking Law Keyed to Barr, 3rd Ed.
Emery v. American General Finance, Inc.
Citation:
71 F.3d 1343 (1995)Facts
In July 1992, Verna Emery borrowed $1,983.81 from American General Finance (AGF) at a 36% annual interest rate, with a finance charge of $1,327.08 over three years. Six months later, AGF sent her a letter offering “extra spending money,” stating they had “set aside $750.00” in her name and that she could get a check “on the spot.” When Emery responded, instead of offering a separate loan, AGF presented her with refinancing documents for her existing loan plus additional funds. The new loan was for $2,399.83 with a finance charge of $1,641.28 over three years. Emery received only $200 in cash, but her monthly payment increased from $89.47 to $108.20, and the loan term was extended. The effective interest rate for the $200 she received exceeded 110% annually, though this was not disclosed. The complaint alleged that AGF targeted financially unsophisticated borrowers who would not understand that refinancing was much more costly than taking out a separate loan, and that AGF deliberately concealed this fact to exploit these customers.
Only StudyBuddy Pro offers the complete Case Brief Anatomy*
Access the most important case brief elements for optimal case understanding.
*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
Topic:
Identifies the topic of law and where this case fits within your course outline.Parties:
Identifies the cast of characters involved in the case.Procedural Posture & History:
Shares the case history with how lower courts have ruled on the matter.Case Key Terms, Acts, Doctrines, etc.:
A case specific Legal Term Dictionary.Case Doctrines, Acts, Statutes, Amendments and Treatises:
Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
Brief Facts:
A Synopsis of the Facts of the case.Rule of Law:
Identifies the Legal Principle the Court used in deciding the case.Facts:
What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case.Issue(s):
Lists the Questions of Law that are raised by the Facts of the case.Holding:
Shares the Court's answer to the legal questions raised in the issue.Concurring / Dissenting Opinions:
Includes valuable concurring or dissenting opinions and their key points.Reasoning and Analysis:
Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
Policy:
Identifies the Policy if any that has been established by the case.Court Direction:
Shares where the Court went from here for this case.