Sager v. Steinbrenner
Supreme Court of Arkansas
Appeal from Benton Chancery Court; T. H. Humphreys, Chancellor; If such bonus, added to the interest, exceeds the maximum legal.rate of interest, the transaction is usurious. 55 Ark. 143. Equity regards substance rather than form. 60 Ark. 595; 53 Ark. 271; 91 S. W. 24. This suit to foreclose may be maintained upon the original security. 22 Am. R. 564; 66 Me. 212; 64 Am. St. R. 471; 68 Minn. 210; 62 Ark. 491; 56 Ark. 334746 Am. S't. R. (note) 187; 55 Ark. 146; 25 Am.
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Appeal from Benton Chancery Court; T. H. Humphreys, Chancellor; If such bonus, added to the interest, exceeds the maximum legal.rate of interest, the transaction is usurious. 55 Ark. 143. Equity regards substance rather than form. 60 Ark. 595; 53 Ark. 271; 91 S. W. 24. This suit to foreclose may be maintained upon the original security. 22 Am. R. 564; 66 Me. 212; 64 Am. St. R. 471; 68 Minn. 210; 62 Ark. 491; 56 Ark. 334746 Am. S't. R. (note) 187; 55 Ark. 146; 25 Am. R. 181; 67 Ark. 425.
1Opinion of the CourtHart, J.
L. B. Steinbrenner, as assignee of the Citizens’ Bank of Rogers, Ark., instituted -this suit in the chancery court against L. G. Sager and others, to foreclose -a mortgage on certain real estate, and to obtain -a judgment against the defendant, Sager, on a promissory note for thirty-five hundred dollars and accrued interest. The defendant, Sager, pleaded usury. The chancellor found for the plaintiff, and entered a decree of foreclosure. Certain junior mortgagees were made parties defendant to the action, but they are not complaining of the decree, and the defendants L. G. and Lulu Sager alone…
2Cases cited4 opinions
- Humphrey v. McCauleySupreme Court of Arkansas · 1891
- Bank of Malvern v. BurtonSupreme Court of Arkansas · 1900
- Hynes v. StevensSupreme Court of Arkansas · 1896
- Trible v. NicholsSupreme Court of Arkansas · 1890
3Cited by1 opinion
- Brookshire v. CoffmanSupreme Court of Arkansas · 1985