The Usury Issue in Public Utility Late Payment Charges

Notwithstanding the legislative and judicial trend toward greater protection for consumers, the late charge billing systems of public utilities have escaped consumer regulation. Consumer advocates have argued, inter alia, that the late payment charge is really a form of interest and therefore subject to statutory usury limitations. Courts and commissions have resisted this attack by classifying late charges in other ways, thereby increasing confusion among jurisdictions about the real nature of the late payment charge. The author proposes to unravel this complexity by examining and comparing the different judicial perceptions of the late payment charge, as well as by providing a comprehensive analysis of the interest classification

The Usury Issue in Public Utility Late Payment Charges

Notwithstanding the legislative and judicial trend toward greater protection for consumers, the late charge billing systems of public utilities have escaped consumer regulation. Consumer advocates have argued, inter alia, that the late payment charge is really a form of interest and therefore subject to statutory usury limitations. Courts and commissions have resisted this attack by classifying late charges in other ways, thereby increasing confusion among jurisdictions about the real nature of the late payment charge. The author proposes to unravel this complexity by examining and comparing the different judicial perceptions of the late payment charge, as well as by providing a comprehensive analysis of the interest classification

HOW I TAUGHT LAW AND ECONOMICS

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A Note on the Economy of Qualities: Attributing Production Practices to Agricultural Practices

Agricultural products are valued for many attributes including those that describe production practices. These production attributes are established through public and private efforts to promulgate standards and labels that differentiate products based on labor treatment, environmental impact, animal welfare, and other practices that occur during production. Organizations, like third-party certifiers, coordinate information and give credence to products in a way that enables consumers to differentiate products by production practices. Libertarian and utilitarian arguments may be used in the normative debate surrounding the appropriate role of government in sponsoring standards and labels that inform consumers about the modes of production