Legal Opinion
Medford v. Wholesale Electric Supply Co.
Supreme Court of Arkansas
Decided June 24, 1985No. 85-48PublishedCited by 5 opinions
1Opinion of the Court
Robert H. Dudley, Justice.
Appellee, Wholesale Electric Supply Co., Inc., filed suit on an open account against appellant, Sonny Medford, d/b/a Medford Electric, Inc. Appellant countered that the interest charges were usurious. The trial court held that the charges were valid because of provisions in the Monetary Control Act of 198.0.12 U.S.C. § 86a. We affirm. This Court has jurisdiction to decide cases involving usury. Rule 29(l)(e).
The open account is for a series of purchases of electrical materials which occurred between April 1981 and December 1982. The materials were resold by appellant…
2Cases cited2 opinions
- Nineteen Corp. v. Guaranty Financial Corp.Supreme Court of Arkansas · 1969
- Knox v. Goodyear Stores, Inc.Supreme Court of Arkansas · 1972
3Cited by5 opinions
- Smith v. MRCC PARTNERSHIPSupreme Court of Arkansas · 1990
- Taylor's Marine, Inc. v. Waco Manufacturing, Inc.Supreme Court of Arkansas · 1990
- First Am. Bank v. Windjammer Time SharingDistrict Court of Appeal of Florida · 1986
- Venture Properties v. First Southern BankCourt of Appeals for the Eighth Circuit · 1996
- Venture Properties, Inc. v. First Southern BankCourt of Appeals for the First Circuit · 1996