Zachary v. R.H. Macy & Co., 31 N.Y.2d 443 (1973)

The “previous balance” method of calculating finance charges on revolving credit accounts, where charges are based on the outstanding balance at the beginning of the billing cycle without adjustments for payments made during the cycle, does not violate Section 413 of the New York Personal Property Law.

Summary

This case concerns a challenge to the