Hare v. General Contract Purchase Corp.

Ed. P. McFaddiN, Justice.

This, case involves the issue of usury in connection with a sale.

Appellant, Clyde Hare, purchased a used truck from Earl Meeks, a second-hand automobile dealer in Arkadelphia, for $1,750. After making a cash payment of $100, and trading in a car for a credit of $500, the balance due by Hare to Meeks was $1,150. To handle this balance, Piare executed to Meeks a title retaining contract and note for $1,439.13. The note and contract were on forms supplied Meeks by appellée, General Contract Purchase Corporation; and Meeks and Hare understood that the said $1,150 was…