Reeve v. Ladies' Building Ass'n
Supreme Court of Arkansas
Appeal from Pulaski Chancery Court. 1. The transaction is a mere loan of money, and is void for usury. 128 111. 70; 39 Pa. St. 137; 89 id. 15; 14 Lea, 677 ; 2 Col. 418; 21 Ga. 697 ; 69 Ala. 419; 19 W. Ya. 776 ; ib. 784; 28 N. B. Rep. 801; 25 Oh. St. 215; 41 Md. 418 ; 24 Conn. 147; Bndlich, Building Ass. secs. 331, 335, 356, 378, etc. ; 68 Tex. 282; 12 Rich.
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Appeal from Pulaski Chancery Court. 1. The transaction is a mere loan of money, and is void for usury. 128 111. 70; 39 Pa. St. 137; 89 id. 15; 14 Lea, 677 ; 2 Col. 418; 21 Ga. 697 ; 69 Ala. 419; 19 W. Ya. 776 ; ib. 784; 28 N. B. Rep. 801; 25 Oh. St. 215; 41 Md. 418 ; 24 Conn. 147; Bndlich, Building Ass. secs. 331, 335, 356, 378, etc. ; 68 Tex. 282; 12 Rich. Bq. 124; 3 Cr. 180; 55 la. 385 ; 75 N. C. 292 ; 10 S. W. Rep. 789; 7 Neb. 173, 181; 81 N. C. 58; 3 H. & J. (Md.), 109; Tyler on Usury, 289, 290; 34 Barb. 157; 41 Ark. 339; 33 Barb. 103; 81 Va. 677. 2. Our statute provides that where…
1Opinion of the CourtHughes, J.
This was a bill filed in Pulaski chancery court by appellant against appellee to cancel two mortgages given by appellant, one on block 152, City of Little Rock, to secure payment of dues, etc., on $1200 of stock, and the other on lots 10, 11 and 12, block 65, City of Little Rock, given by appellant to secure payment of dues, etc., on $7000 of stock in appellee’s association, on the alleged ground that the transactions were usurious loans ; and asking judgment over against said association for all sums paid in on said transactions.
Are these contracts usurious ?
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2Cases cited6 opinions
- Lloyd v. ScottSupreme Court of the United States · 1830
- Spain v. Hamilton's AdministratorSupreme Court of the United States · 1864
- Parker v. Fulton Loan & Building Ass'nSupreme Court of Georgia · 1872
- Bibb County Loan Ass'n v. RichardsSupreme Court of Georgia · 1857
- Pattison v. Albany Building & Loan Ass'nSupreme Court of Georgia · 1879
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3Cited by24 opinions
- Briant v. Carl-Lee Bros.Supreme Court of Arkansas · 1923
- Wilson v. WhitworthSupreme Court of Arkansas · 1939
- O'BRIEN v. Atlas Finance Co.Supreme Court of Arkansas · 1954
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- Hogan v. ThompsonSupreme Court of Arkansas · 1932
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