Gerasta v. Hibernia National Bank
United States Court of Appeals for the Fifth Circuit
575 F.2d 580 (1978)
- Written by Alex Ruskell, JD
Facts
Gerasta (plaintiff) received a mortgage loan from Hibernia National Bank (defendant). Approximately six months later, Gerasta discovered Hibernia had not complied with all of the disclosures required under the Truth in Lending Act. Gerasta notified Hibernia that Gerasta was rescinding the transaction, and Hibernia did nothing in response although the act required Hibernia to return Gerasta’s money after 10 days. Gerasta sued. The court ruled that Gerasta had properly rescinded the transaction and that Hibernia had failed to respond. Consequently, the court awarded Gerasta costs, attorney’s fees, and ruled that Gerasta was entitled to keep the loan proceeds. Hibernia appealed.
Rule of Law
Issue
Holding and Reasoning (Hill, J.)
Concurrence (Rubin, J.)
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