Black v. Tompkins
Supreme Court of Arkansas
Appeal from Drew Chancery Court. James ff. Robinson, Chancellor. STATEMENT BY THE COURT. This is a suit in equity to foreclose a mortgage given to secure a loan made by a building association. H. P. Tompkins was the owner of ten shares of stock in “The American Building, Loan & Tontine Savings Association,” of the par value of $100 per share.
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Appeal from Drew Chancery Court. James ff. Robinson, Chancellor. STATEMENT BY THE COURT. This is a suit in equity to foreclose a mortgage given to secure a loan made by a building association. H. P. Tompkins was the owner of ten shares of stock in “The American Building, Loan & Tontine Savings Association,” of the par value of $100 per share. He borrowed from said association the sum of $500 on his ten shares of stock'; transferred the stock to the association, and promised to continue to pay to said association, as he had been doing, $6 per month from and after the date of said loan as…
1Per curiam
The question of law involved in this action was decided in Reeve v. Ladies' Building Association, 56 Ark. 335, and Taylor v. Van Buren Building Association, ib. 340. According to the opinion in those cases, there was and is no usury in the contracts sued on.
The decree of the chancery court is therefore reversed, and the cause is remanded, with instructions to the court to foreclose the mortgage sued on; ascertaining the amount due thereon according to the rule stated in Roberts v. American Building & Loan Association, 62 Ark. 572.
2Cases cited2 opinions
- Reeve v. Ladies' Building Ass'nSupreme Court of Arkansas · 1892
- Roberts v. American Building & Loan Ass'nSupreme Court of Arkansas · 1896
3Cited by6 opinions
- O'BRIEN v. Atlas Finance Co.Supreme Court of Arkansas · 1954
- Simpson v. Smith Savings SocietySupreme Court of Arkansas · 1929
- Midland Savings & Loan Co. v. HendersonSupreme Court of Oklahoma · 1915
- Hickingbotham v. Industrial Finance Corp.Supreme Court of Arkansas · 1936
- Lindsay Et Ux. v. Chickasha Building Loan Ass'n.Supreme Court of Oklahoma · 1913
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