California Supreme Court Watch

Mar 21, 2018
#18-42 Wishnev v. Northwestern Mutual Life Ins. Co., S246541. (9th Cir. No. 16-16037; 880 F.3d 493; Northern District of California; No. 15-cv-03797-EMC.)

#18-42 Wishnev v. Northwestern Mutual Life Ins. Co., S246541. (9th Cir. No. 16-16037; 880 F.3d 493; Northern District of California; No. 15-cv-03797-EMC.) Request under California Rules of Court rule 8.548, that this court decide questions of California law presented in a matter pending in the United States Court of Appeals for the Ninth Circuit. The questions presented are: “1. Are the lenders identified in Article XV of the California Constitution (Cal. Const., art. XV, § 1) as being exempt from the restrictions otherwise imposed by that article, nevertheless subject to the requirement in section 1916-2 of the California Civil Code that a lender may not compound interest ‘unless an agreement to that effect is clearly expressed in writing and signed by the party to be charged therewith?’ 2. Does an agreement meet the requirement of section 1916-2 if it is comprised of: (a) an application for insurance signed by the borrower, and (b) a policy of insurance containing an agreement for compound interest that is subsequently attached to the application, thus constituting the entire contract between the parties pursuant to section 10113 of the California Insurance Code?”

Review granted: 03/14/2018

See the California Court of Appeal opinion.