Southland Mobile Home Corp. v. Webster

George Rosé Smith, Justice.

In 1973 one of the appellants, Southland, sold a mobile home to the appellees, the unpaid balance of the purchase price to be paid in monthly installments.. The transaction was financed by the other appellant, Westinghouse Credit Corporation. According to the proof offered by both sides, the interest rate was slightly more than 10% per annum and was therefore usurious. After the purchasers had made 39 of the 72 monthly payments they brought this suit to cancel their remaining obligation. The chancellor granted that relief. For reversal the appellants argue that the…