Eldred v. Hart
Supreme Court of Arkansas
Appeal from Benton Chancery Court; T. H. Humphreys, Chancellor; 1. The contract was not usurious.- When the highest rate of interest is contracted for, the interest which will accrue during the period of the loan can be divided up to suit the convenience of the parties, and separate obligations given for all or any part of it. 54 Ark. 566; 54 Id. 40. 2. The usury must exist in the inception of the contract; it cannot be made usurious by subsequent acts. 25 Ark. 258; 29 Am. &…
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Appeal from Benton Chancery Court; T. H. Humphreys, Chancellor; 1. The contract was not usurious.- When the highest rate of interest is contracted for, the interest which will accrue during the period of the loan can be divided up to suit the convenience of the parties, and separate obligations given for all or any part of it. 54 Ark. 566; 54 Id. 40. 2. The usury must exist in the inception of the contract; it cannot be made usurious by subsequent acts. 25 Ark. 258; 29 Am. & Eng. Enc. of Law, 460. 3. If payment of excessive interest depends on a contingency which is within the control of the…
1Opinion of the CourtHart, J.
This is an action brought by appellants in the Benton Chancery Court against appellees to foreclose a mortgage on certain lands situate in said county.
In 1902 the appellees, C. L. Hart and Ella L. Hart, desired to procure a loan of $2,500 and secure the same with a mortgage on the lands in controversy then owned by Ella L. Hart. She áppointed the appellee, C. L. Hart, her husband, as her agent to negotiate the loan. In furtherance of this purpose, he entered into the following contract:
“Bentonville, Ark., April 28, 1902.
“To Holmes & Hibbard, Springfield, Mo.,
“I hereby appoint you my agent to…
2Cases cited7 opinions
- Leonhard v. FloodSupreme Court of Arkansas · 1900
- Scruggs v. Scottish Mortgage Co.Supreme Court of Arkansas · 1891
- Savannah Savings Bank v. LoganSupreme Court of Georgia · 1896
- Banks v. FlintSupreme Court of Arkansas · 1890
- Keckley v. Union BankSupreme Court of Virginia · 1884
2 more not listed; retrieve them via the Exa API.
3Cited by32 opinions
- Briggs v. SteeleSupreme Court of Arkansas · 1909
- Hayes v. First National Bank of MemphisSupreme Court of Arkansas · 1974
- Winkle v. Grand National BankSupreme Court of Arkansas · 1980
- Clement Mortgage Co. v. JohnstonSupreme Court of Oklahoma · 1921
- Cissna Loan Co. v. GawleyWashington Supreme Court · 1915
27 more not listed; retrieve them via the Exa API.