Gilliam v. Peebles
Supreme Court of Arkansas
Appeal from White Chancery Court; John E. Mar* tineau, Chancellor; The contract was usurious. The deed was an equitable mortgage but tainted and void for usury. 47 Ark. 287; 36 Id. 252;. 51 S. W. 460; 32 Ark. 346; 41 Id. 331. The court properly held that there was no usury as the evidence shows there was none. The burden was on him who pleads usury to prove it.
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Appeal from White Chancery Court; John E. Mar* tineau, Chancellor; The contract was usurious. The deed was an equitable mortgage but tainted and void for usury. 47 Ark. 287; 36 Id. 252;. 51 S. W. 460; 32 Ark. 346; 41 Id. 331. The court properly held that there was no usury as the evidence shows there was none. The burden was on him who pleads usury to prove it. The excess of $100 in the note was $50 to cover taxes and improvement assessments and the other $50 was added by mistake of the attorney who prepared the deed. Under the circumstances and proof there was no usury. 91 Ark. 461; 83 Id.…
1Opinion of the CourtMcCulloch, C. J.
Appellant owned a certain lot or tract of real estate in Searcy, White County, Arkansas, and on September 8,1917, she mortgaged it to appellee to secure a note in the sum of $485, bearing interest, at the rate of ten per cent, per annum from date until paid, executed in evidence of a debt to appellee for borrowed money. The debt was not paid, and on January 10, 1919, there was an unpaid balance of $449.25 on the debt. Appellant applied to appellee for an additional loan of $400, which appellee agreed to make to her, and did make, which increased the debt to $849.25. On that date appellant…
2Cases cited3 opinions
- Garvin v. LintonSupreme Court of Arkansas · 1896
- Jones v. PhillippeSupreme Court of Arkansas · 1918
- Tompkins v. VaughtSupreme Court of Arkansas · 1919
3Cited by4 opinions
- Briant v. Carl-Lee Bros.Supreme Court of Arkansas · 1923
- Little Rock Municipal Airport Commission v. Arkansas Valley Compress & Warehouse Co.Supreme Court of Arkansas · 1955
- Thompson v. Murdock Acceptance Corp.Supreme Court of Arkansas · 1954
- Thompson v. Murdock Acceptance Corp.Supreme Court of Arkansas · 1954