...by this appeal is whether the presence of an acceleration clause in a contract under the Georgia Motor Vehicle Sales Finance...the Truth in Lending Act based on the fact that the acceleration clause in the contract he had signed was not on the face but the reverse side of the contract. The appellee filed a motion to dismiss the counterclaim, which the Bankruptcy Judge denied. On appeal the District Court reversed and directed that an order be issued dismissing the counterclaim. The court held that the provisions of the Truth in Lending Act and Regulation Z do not require disclosure of an acceleration clause on...face of the contract. We affirm. The applicable provision reads as follows: In Martin v. Commercial Securities Company, Inc., 539 F.2d 521 (5th Cir. 1976), we held that in the absence of a regulation expressly requiring it, failure to disclose an acceleration clause and...

...violation of the Retail Installment and Home Solicitation Sales Act. The contract in this case, when entered into by the parties, did not violate the Act; the rates charged over the entire term of the contract did not violate the Act; the presence of the acceleration clause in...to invoke the penalty provisions of Code Ann. § 96-910(b)? We hold that acceleration by the seller under the contract involved in this case plus the filing of a complaint in the...trial court against the buyer seeking recovery of the balance due, without deducting therefrom unearned rates that would have been earned except for acceleration, amounted to a "charge" by the seller in...

...Industrial Loan Act (ILA). The trial court denied appellant's motion. We reverse. The contract in question contains two acceleration clauses, one in the promissory note and the other in the security agreement. The clause in...immediately due and payable without notice to the undersigned." This acceleration clause includes unearned interest, which is prohibited by the ILA. Appellant contends that the acceleration clause in the security agreement is illegal because it includes unearned interest and this, under the ILA, invalidates the contract despite...the acceleration clause in the promissory note which complies with the statutory requirements. We agree. A licensee may not charge, collect or contract for...

...default on a conditional sales contract for an automobile. The alleged defect is the presence of an acceleration clause in the contract which allegedly authorizes collection of unearned finance charges...and to cases wherein the record clearly disclosed that the judgment complained of included unearned interest. Held: "The mere presence of [the] acceleration clause is not.... BANKE, Judge. The appeal in Case No. 59012 is from the denial of appellant's...

...the unilateral obligation to pay money in the future. The claims on an installment contract do not ordinarily accrue until the installment becomes due in the absence of an acceleration clause in...the contract. MCL 600.5836; MSA 27A.5836. In this instance there existed no acceleration clause in the agreement. Further, as the contract should be construed against the plaintiff, the drafter of this instrument, United Coin Meter Co v Gibson, supra, an acceleration clause should...for 21 years. The trial court further ruled that, in the absence of an acceleration provision in the commission contract, plaintiff was not entitled to an acceleration of the payments. Two issues are...

.... Cf. Mahoney v. Tingley, 85 Wn.2d 95, 98, 529 P.2d 1068 (1975) (where a clause in the parties' earnest money agreement provided that upon the purchaser's default the earnest money shall be forfeited as liquidated damages unless the seller elects to enforce the agreement, the seller may not sue for actual damages). 4. Nor does the absence of an acceleration clause in Contract II...$24,000 balloon payment is not presently due under the terms of the contract, the first purchasers may not "accelerate" payment of this amount where the contract does not have a clause providing for acceleration upon default. This argument, however, does not correctly perceive the nature of the first purchasers' claim. They are not suing to specifically enforce Contract II, but to recover damages. An analogous situation was presented to the Minnesota Supreme Court in Kirk...mortgage debt; as a result, the mortgage was foreclosed and the mortgagee obtained title to the property. The seller on the real estate contract, having lost her interest in the property because of the purchaser's breach of contract, sued the purchaser for damages equal to the unpaid balance on the contract. The purchaser argued that since this balance consisted of future installments that were not yet due by the terms of the contract, and since there was no acceleration clause in...

...: "The contract in this case, when entered into by the parties, did not violate the Act; the rates charged over the entire term of the contract did not violate the Act; the presence of the acceleration clause in...sentence set forth principles for guidance of our state's commercial and consumer interests on four points. They are: (1) the validity of the contract used by the Georgia Retail Furniture Dealers Association; (2) the lawfulness of the rates charged in the original purchase contracts; (3) the legality of the acceleration clause; and...of the acceleration clause in the conditional sale contract. This is not only because of the importance to the business interests of our state as shown by the pedantic...

...installment becomes due in the absence of an acceleration clause in the contract." Petovello v Murray, 139 Mich. App. 639, 645...834 (1942). The cases cited above illustrate that when an installment contract does not contain an acceleration clause, claims based upon a breach of the installment contract accrue, and the statute of limitations begins to run, as each separate installment falls due. In the...absence of an acceleration clause, claims on an installment contract do not accrue until the installment becomes due. However, a different result is reached when an installment contract contains an acceleration clause and the acceleration clause is exercised. In the...

...implicitly determined that such a breach occurred. Therefore, we hold the absence of an acceleration clause in the contract does not preclude the jury from awarding appellee both past and future payments as...limit appellee's damages to the payments due under the contract as of the date of the verdict, plus interest thereon. We agree that absent an acceleration clause or other appropriate means, the...a jury verdict in appellee's favor on his claim for breach of contract. We find no reversible error on either party's claims, except as to appellant's claim that the trial court erred in failing to...

...of action raising similar issues. In the instant case, General Finance Corp. ("GFC") appeals from the district court's determination that the acceleration clause contained in its security agreement with the bankrupt violated the Georgia Industrial Loan Act. After carefully considering the record and the applicable Georgia law, we affirm. On July 29, 1975 the debtor, Ted A. Sprouse, and his wife, Beverly Sprouse, entered into a loan contract with...regulates "the business of making loans of $3,000 or less." Ga. Code Ann. § 25-302. The contract consisted of a promissory note and a security agreement, both of which contained acceleration clauses. On November 10, 1975 Sprouse filed a voluntary petition for bankruptcy. At the first meeting of creditors, Sprouse objected to GFC's claim, contending inter alia that the acceleration clause in the..., 230 S.E.2d 55 (1976). Any loan contracts which provide for the acceleration of unaccrued interest in violation of GILA are null and void, Ga. Code Ann. § 25-9903, and any money loaned under such contracts cannot be recovered. Hodges v. Community Loan Investment Corp., 234 Ga. 427, 216 S.E.2d 274 (1975). In the contract at issue, the acceleration clause contained...

... particular that the loan contract contained an acceleration clause whereby appellant "contracted for charges in excess of those permitted by said Act," in violation of Code § 25-316; more particularly, that said loan contract was made in violation of the decision...authorizing its collection is void under Code § 25-9903." (Emphasis supplied.) The obligation (not, in fact, the instrument) sued on in Lewis was held void not because the acceleration clause in the contract provided...Lawrimore) the mere presence of an acceleration clause in the loan contract did not render the obligation void from inception. As the court in Lewis pointed out, "[t]he statute does not...

...; (2) Whether such deposits would constitute a default which would permit defendant to invoke the acceleration clause in the contract. There are two agreements that form the basis of...this action. The first agreement was made between plaintiffs and Sendell on April 22, 1975 in settlement of litigation then pending, and it contained a reciprocal covenant not to compete. The.... In the latter agreement plaintiffs bought Sendell's ten shares of outstanding common stock in plaintiff corporations for $250,000, of which a substantial amount was payable in 16 quarterly...

...profit figure and the $55.00 in payments due when the "system" was removed. Plaintiff admitted there was no acceleration clause in the contract. The termination clause was recited in evidence. It...the cessation of service occurred, it was, in fact, terminated when the equipment was removed by the defendant. As noted, there was no acceleration clause and in view of the ultimate disposition of this appeal, there is no necessity for relating the conflicting claims as to the reason for the removal of the equipment. The initial point presented by defendant is that the trial court erred in finding for plaintiff because the contract was.... DIXON, Presiding Judge. Initiated in the Magistrate Court and appealed to the Circuit Court, this suit on a contract resulted in a...

...Walton and Century Finance Company consists of a promissory note and a security agreement. The only acceleration clause in the contract is contained in the security agreement. The acceleration clause...immediately due and payable. . . . We have already held in Sprouse v. General Finance Corp., supra, that such a clause, even when contained in the security agreement, invalidates the entire loan contract. The only difference between this case and Sprouse is that the promissory note in the instant case contains no acceleration clause while...promissory note at issue in Sprouse contained a valid acceleration clause. This distinction actually weakens the creditor's position since the contract nowhere provides for the rebate of unaccrued interest and defendant cannot argue that the acceleration clause found in the...

...prayed. A part of the purchase money had been paid by the vendee as provided in the contract, and then there was a default for considerably more than sixty days in the payment of the balance, and, taking advantage of an acceleration clause in...simple, together with an abstract, to the administratrix, in accordance with the terms of the contract as regarded the making of such tender to the vendee, and had offered to deliver same upon the...and interest, costs and attorney's fees, as provided in said contract and note, which said deed and abstract are deposited in the registry of the Court," etc. The prayer of the bill is that the...

...demurrer, defendants appeal. It appears the gist of defendants' argument is that inasmuch as there was no acceleration clause in the contract plaintiffs cannot recover the full...Against Demurrer. The petition examined in an action for specific performance of a real estate contract, and held, the trial court did not err in overruling the demurrer lodged thereto...contract. The petition alleged in pertinent part that plaintiffs and defendants entered into a written contract, attached to and made a part of the petition, under the terms of...

.... L.C. Andrews and James Stone Sons, all of Oxford, for appellant. Appellee has no action for specific performance because there was no acceleration clause in the contract between...warranty deed conveying a merchantable title in accordance with the terms of the contract between E.E. Temple and appellant. 58 C.J., 1116, sec. 413; 27 R.C.L. 520, sec. 249...the question of warranty, we conceded that if there should be in the contract a personal element, then the question of who is making the warranty would have probative value; but in reading the...

...nullify the acceleration clause in the contract. Paragraph 3 of the...shall, at the option of the Secured Party, without notice of said option to any one become at once due and payable . . ." Where reference is made to "acceleration clause" or "acceleration upon bankruptcy" clause it is this clause to which the Court is referring. The term "executory contract" is not defined in the...fully performed. As the contract in question is not an executory contract, Debtor's argument that 11 U.S.C. § 365(e) applies so as to make the acceleration upon bankruptcy clause unenforceable...

...— REMEDIES OF SELLER AGAINST BUYER — OPTIONS ON DEFAULT — ACCELERATION CLAUSE. A clause in a conditional sales contract of a truck to the effect that, in case of default, the vendor may, "if he so...appellant had no right thereafter to recover any of the remaining installments of purchase money. What respondent argues constitutes the acceleration clause in the contract are the...asserts, in effect, that when a default occurred in the payment of any installment, the balance of the purchase money thereupon became due, if the vendor elected to enforce payment, instead of disaffirming the sale and retaking the property. We do not construe that clause of the contract as an absolute acceleration clause...

...., 140 Ga. App. 682 (3) ( 231 S.E.2d 409). "The contract in this case, when entered into by the parties, did not violate the Act; the rates charged over the entire term of the contract did not violate the Act; [and] the presence of the acceleration clause in...the contract did not violate the Act..." Bell, supra, 237 Ga. 585, 586. Nor did the reference, if any, to the acceleration clause in...Ann. § 96-1008 (b) and results in forfeiture of "any finance charge, delinquency or collection charge on the contract." A. By letter, appellant's collection supervisor notified...