Montana Code 31-4-119. Act violation — unenforceable contract
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31-4-119. (Effective January 1, 2024) Act violation — unenforceable contract. (1) Any violation of this part by the litigation financer renders the litigation financing contract unenforceable by the litigation financer or any successor-in-interest to the litigation financing contract.
Terms Used In Montana Code 31-4-119
- Contract: A legal written agreement that becomes binding when signed.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Usury: Charging an illegally high interest rate on a loan. Source: OCC
(2)If a litigation financer charges a rate of interest that exceeds the rate of interest allowed under 31-1-107, the litigation financer shall be subject to a penalty for usury and an action to recover excessive interest as authorized under 31-1-108.