POST SIGN COMPANY v. Jemc's, Inc.

WORLEY, Special Judge.

This appeal by intervenor, Western Avenue Realty Company, Inc., is from the action of the Chancellor in decreeing that a purchase money deed of trust note made by one James E. McAshan III, and held by intervenor, is tainted with usury and unjust enrichment to the extent of $45,000, and that the receiver for Jemc’s, Inc., present owner of the equity in the property on which the deed of trust was executed, is entitled to have the indebtedness purged of such usury.

The holding complained of occurred during a general creditors’ proceeding originally filed against Jemc’s,…