[Karen37a]

Stare Decisis


https://www.natlawreview.com/article...ncing-industry


GA court Ruling Sets Precedent for Litigation Financing Industry


Consistent with the weight of authority, the Georgia Supreme Court has ruled that certain litigation financing agreements structured as asset sales were not disguised "loans," and therefore not subject to the state's Industrial Loan Act (ILA) or Payday Lending Act (PLA). The decision is significant because it is helpful precedent not only for litigation financing providers facing similar challenges but also for providers of merchant cash advances and companies involved in other transactions structured as sales rather than loans.

[Mark24cap]

You would have made an amazing lawyer

[Karen37a]

You would have made an amazing lawyer

I choose to be in Financial Services

And choose to be a Merchant Cash Advance broker ...proud of most of us too

[Karen37a]

Asset sales have no recourse it is not "financing".There are 2 types of financing; Debt and Equity. Equity is ownership in the form of a partnership or shares of stock. Debt is a Loan that is paid back with Interest reflected in the form of an APR .Therefor APR is an illegal and confusing metric to use for a non recourse purchase of recivables ( a sale)

Therefore to classify MCAs as a transaction with an Apr, resembling a loan can and will turn them into Loans ( which carry consequences...usury etc)

Contracts must be formulated correctly to not cross over, people who are not experts at financial transactions cannot understand these complex transactions. The Calif APR cannot go thru, It will be struck down on a Federal Level.

APR on contracts should be removed

To even require a "loan" licence might be eventually struck down as well


* this also opens the flood gates for investors to want to step back in