Everett v. Parts, Inc.

Melvin Mayfield, Chief Judge.

This is an appeal from a Chancery Court decree awarding Parts, Inc. judgment against appellants and ordering foreclosure of a mortgage on their land. We affirm.

Parts is a Tennessee distributor of automotive parts and to assure outlets it assists suitable prospects in setting up retail stores. As part of this policy, Parts assisted William and Elva Everett in opening an auto parts store in Mountain View, Stone County, Arkansas.

The Everetts executed a promissory note to a Tennessee bank in the amount of $105,441.00, which included precomputed interest at 13% per…