Habach v. Johnson
Supreme Court of Arkansas
Appeal from Polk Chancery Court; Jas. D. Shaver, Chancellor; 1. There was no intent to charge more than the legal rate of interest. 62 Ark. 380. 2. If there was a mistake of fact, by error in calculation or inadvertence, it is not usury. 25 Ark. 191; 41 Id. 331; 62 Id. 370. 3. The burden to prove usury is on defendant.
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Appeal from Polk Chancery Court; Jas. D. Shaver, Chancellor; 1. There was no intent to charge more than the legal rate of interest. 62 Ark. 380. 2. If there was a mistake of fact, by error in calculation or inadvertence, it is not usury. 25 Ark. 191; 41 Id. 331; 62 Id. 370. 3. The burden to prove usury is on defendant. Usury is never inferred. 83 Ark. 31; 59 Id. 366; 57 Id. 251. 4. There is no proof that Ray Worthington was the agent of the lender. 57 Ark. 256; 54 Id. 40. 5. The usury, if any, should be purged. 62 Ark. 370. I. The loan was clearly usurious and so intended, and the decree of…
1Opinion of the CourtSmith, J.
George W. Johnson and his wife executed their joint note on March 20, 1912, to Edwin S. Ellis for the sum of $800.00, bearing interest at the rate of six per cent, per annum, payable semi-annually, and due five years from date. They also executed ten notes, for $24.00 each, covering the interest on this loan. The notes were secured by a mortgage on a tract of land owned by the Johnsons, and were assigned, before maturity, for value, to Mrs. Henrietta Habach. Six of these interest notes were paid, when, upon default being made in the payment of the next note to fall due, Mrs. Habach brought…
2Cases cited6 opinions
- Fiedler v. . DarrinNew York Court of Appeals · 1872
- Banks v. FlintSupreme Court of Arkansas · 1890
- Ellis v. TerrellSupreme Court of Arkansas · 1913
- Baird v. MillwoodSupreme Court of Arkansas · 1889
- Thompson v. IngramSupreme Court of Arkansas · 1889
1 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Strickler v. State Auto Finance Co.Supreme Court of Arkansas · 1952
- Brooks v. BurgessSupreme Court of Arkansas · 1957
- General Contract Corp. v. DukeSupreme Court of Arkansas · 1954
- Ford Motor Credit Co. v. CatalaniSupreme Court of Arkansas · 1964
- Luebbers v. Money Store, Inc.Supreme Court of Arkansas · 2001
5 more not listed; retrieve them via the Exa API.