Legal Opinion
Pakay v. Davis
Supreme Court of Arkansas
Decided October 12, 2006No. 06-360PublishedCited by 7 opinions
1Opinion of the Court
Tom Glaze, Justice.
On April 6, 2005, Appellant Barbara Pakay filed suit against Appellee Tabatha Davis. Barbara alleged that she had entered into a contract for deed with Tabatha, and the 8% interest rate she was charged was usurious under Article 19, Section 13 of the Arkansas Constitution, also known as Amendment 60. Amendment 60 established that Arkansas’ maximum lawful rate of interest on any contract shall not exceed five percent (5%) per annum above the Federal Reserve Discount Rate at the time of the contract. Tabatha answered, contending that the interest rate in the parties’ contract…
2Cases cited15 opinions
- Sidle v. KaufmanSupreme Court of Pennsylvania · 1942
- Fegans v. NorrisSupreme Court of Arkansas · 2002
- Bank of America, N.A. v. C.D. Smith Motor Co.Supreme Court of Arkansas · 2003
- Hanks v. SneedSupreme Court of Arkansas · 2006
- Cooper v. CooperSupreme Court of Arkansas · 1956
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3Cited by7 opinions
- K.C. Properties of N.W. Arkansas, Inc. v. Lowell Investment Partners, LLCSupreme Court of Arkansas · 2008
- Evans v. HambySupreme Court of Arkansas · 2011
- Bennett v. SpaightSupreme Court of Arkansas · 2008
- Neal v. FarrisCourt of Appeals of Arkansas · 2008
- Courtyard Gardens Health & Rehabilitation, LLC v. QuarlesSupreme Court of Arkansas · 2013
2 more not listed; retrieve them via the Exa API.