Jarvis v. Southern Grocery Co.
Supreme Court of Arkansas
Appeal from Jefferson Chancery Court. James R. Robinson, Chancellor. A note given to settle a balance due on an account, containing two usurious items, is usurious itself, and void. 41 Ark. 331; 2 Rich. (S. Q.) 73. To constitute usury, an intent to charge interest in excess of the legal rate is essential; but where the charge is intentionally made, and the blight of usury fixed upon the contract, it can only be validated by eliminating the entire usurious charge or element.
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Appeal from Jefferson Chancery Court. James R. Robinson, Chancellor. A note given to settle a balance due on an account, containing two usurious items, is usurious itself, and void. 41 Ark. 331; 2 Rich. (S. Q.) 73. To constitute usury, an intent to charge interest in excess of the legal rate is essential; but where the charge is intentionally made, and the blight of usury fixed upon the contract, it can only be validated by eliminating the entire usurious charge or element. An unexecuted design is not enough. 103 U. S. 261; 32 Ark. 346, 357; 1 C. & P. 396; 2 Taun-ton, 184; 2 Starkie, 237; 10…
1Opinion of the Court
Bunn, C.'J.
In the early part of 1890 appellee company, organized as a corporation, and doing business under the laws of this state, and domiciled in the city of Pine Bluff, began to furnish appellant, an extensive farmer in the vicinity, with supplies and money for'the current year, and this continued until 1893, when the matter culminated in this suit.
As is customary in such cases, at the beginning of each year a note (and sometimes more than one note) was given, covering the balance unpaid on the last yearns transaction, and an amount estimated to cover all needed supplies and money for the…
2Cases cited2 opinions
- Garvin v. LintonSupreme Court of Arkansas · 1896
- Boozer v. AndersonSupreme Court of Arkansas · 1883
3Cited by13 opinions
- National Bank of Eastern Arkansas v. BlankenshipDistrict Court, E.D. Arkansas · 1959
- Western Bank & Trust Co. v. OgdenCourt of Appeals of Texas · 1906
- Mercantile-Commerce Bank & Trust Co. v. Southeast Arkansas Levee Dist.Court of Appeals for the Eighth Circuit · 1939
- American Casualty Co. v. HarrisonDistrict Court, W.D. Arkansas · 1951
- Missouri Pacific Railroad Company v. Winburn Tile Manufacturing CompanyCourt of Appeals for the Eighth Circuit · 1972
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