Watley v. Transamerica Financial Services, Inc.
Decision Date | 21 March 1997 |
Citation | 708 So.2d 889 |
Parties | Billie Jean WATLEY and John S. Watley v. TRANSAMERICA FINANCIAL SERVICES, INC. 2951288. |
Court | Alabama Court of Civil Appeals |
J. Gusty Yearout, William R. Myers, and John G. Watts of Yearout, Myers & Traylor, P.C., Birmingham; and A. Dwight Blair III of Blair, Holladay & Parsons, P.C., Pell City, for appellants.
Charles E. Robinson, Ashville; and Andrew J. Noble III and Stewart M. Cox of Bradley, Arant, Rose & White, Birmingham, for appellee.
In June 1995, Billie Jean Watley and John S. Watley sued Transamerica Financial Services, Inc., and several fictitiously named defendants, alleging, among other things, that Transamerica had violated Ala.Code 1975, § 5-19-4(g), a provision of the Mini-Code. They requested compensatory and punitive damages. Transamerica filed a motion for summary judgment, arguing that its loan to the Watleys is not subject to the Mini-Code and that, even if the loan is subject to the Mini-Code, it did not violate the section. The trial court entered a summary judgment for Transamerica, ruling that it did not violate the section. The trial court pretermitted discussion of the applicability of the Mini-Code. The Watleys appealed to the supreme court, which transferred the case to this court pursuant to Ala.Code 1975, § 12-2-7(6).
A motion for summary judgment is to be granted when no genuine issue of material fact exists and the moving party is entitled to a judgment as a matter of law. Rule 56(c)(3), Ala.R.Civ.P. See West v. Founders Life Assurance Co. of Florida, 547 So.2d 870 (Ala.1989), and Bass v. SouthTrust Bank of Baldwin County, 538 So.2d 794 (Ala.1989), for a discussion of the application of this rule.
Transamerica lent the Watleys $41,061.05; the loan was secured by an interest in real property. The loan amount included $2,053.05 in "points." Transamerica contends that Ala.Code 1975, § 8-8-5, exclusively governs the amount of points it can charge on this loan. The Watleys contend that Ala.Code 1975, § 5-19-4(g), exclusively governs the amount of points Transamerica can charge on this loan.
Section 8-8-5 states in pertinent part:
(Emphasis added.) We agree with Transamerica that § 8-8-5 governs this case. This court has stated:
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Ex parte Watley
...and John S. Watley's petition for certiorari review of the judgment of the Court of Civil Appeals in Watley v. Transamerica Financial Services, Inc., 708 So.2d 889 (Ala.Civ.App.1997). The Court of Civil Appeals affirmed a summary judgment for Transamerica Financial Services, Inc., in the Wa......