Jones v. Phillippe
Supreme Court of Arkansas
Appeal from Madison Chancery Court; B.'F. Mc-Mahan, Chancellor; 1. The plea of usury is not sufficient. It fails to allege a corrupt intent or agreement. 4 Ark. 44; lb. 410. A corrupt agreement and the intention to take or reserve more than the legal rate of interest are essential and must be averred. 26 Id. 356. The burden is on the party who pleads usury. 74 Ark. 241; 83 Id. 31; 105 Id. 653. The written contract is legal on its face and a parol contract to take usury must…
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Appeal from Madison Chancery Court; B.'F. Mc-Mahan, Chancellor; 1. The plea of usury is not sufficient. It fails to allege a corrupt intent or agreement. 4 Ark. 44; lb. 410. A corrupt agreement and the intention to take or reserve more than the legal rate of interest are essential and must be averred. 26 Id. 356. The burden is on the party who pleads usury. 74 Ark. 241; 83 Id. 31; 105 Id. 653. The written contract is legal on its face and a parol contract to take usury must be shown by clear and convincing evidence. 83 Ark. 31; 105 Id. 653. 2. The evidence does not show usury. 62 Ark. 99.…
1Opinion of the CourtWood, J.
This action was brought by appellant against appellees to recover a balance alleged to be due on a promissory note and to foreclose a mortgage on certain real estate executed to secure the note. The note, on its face, was for the sum of $300 with interest at the rate of 10 per cent, per annum. The defense was a plea of usury.
Appellee, M. J. Phillippe, testified concerning the execution of the note as follows: “Through Mr. Nunnelley I borrowed the money from Alfred Hawn to pay off the indebtedness against the land. I borrowed $300 from Mr. Hawn which I understood covered the amount due against…
2Cases cited7 opinions
- Garvin v. LintonSupreme Court of Arkansas · 1896
- Lukens v. HazlettSupreme Court of Minnesota · 1887
- Citizens' Bank v. MurphySupreme Court of Arkansas · 1907
- Scruggs v. Scottish Mortgage Co.Supreme Court of Arkansas · 1891
- Smith v. MackSupreme Court of Arkansas · 1912
2 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Brittian, Administrator v. McKimSupreme Court of Arkansas · 1942
- Perry v. ShelbySupreme Court of Arkansas · 1938
- Wilson v. WhitworthSupreme Court of Arkansas · 1939
- L. M. McAdoo v. Union National Bank of Little Rock, ArkansasCourt of Appeals for the Eighth Circuit · 1976
- Mallory v. Columbia Mortgage & Trust Co.Tennessee Supreme Court · 1923
20 more not listed; retrieve them via the Exa API.