Edwards v. Wiley
Supreme Court of Arkansas
Appeal from Sebastian Chancery Court, Ft. Smith District; J. V. Bourland, Chancellor; 1. The allegations of the complaint are not sufficient to charge usury. Into .a sale of land or chattels usury cannot enter, as the element of lending- or borrowing is. absent. 55 Ark. 268; Tyler, Usury, 300; 2 Doug. 736; 224 S. W. (Ark.) 978. 2. The sole cause of action set out in the complaint was usury.
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Appeal from Sebastian Chancery Court, Ft. Smith District; J. V. Bourland, Chancellor; 1. The allegations of the complaint are not sufficient to charge usury. Into .a sale of land or chattels usury cannot enter, as the element of lending- or borrowing is. absent. 55 Ark. 268; Tyler, Usury, 300; 2 Doug. 736; 224 S. W. (Ark.) 978. 2. The sole cause of action set out in the complaint was usury. It was, therefore, error to grant permission to amend the complaint, after testimony should be introduced, so as to allege that the contract was obtained through, .subterfuge, thereby giving permission to…
1Opinion of the CourtSmith, J.
Appellees instituted this suit to cancel a contract for the sale of a certain house and lot in the city of Ft. Smith on the ground of usury. The complaint 'alleged that on March 20, 1910, appellant, John B. Edwards, was the owner of lot 5, in block 65, in the city of Ft. Smith, and that its then value was $1,500. That, in order to obtain an exorbitant rate of interest, Edwards fixed the price of the lot at $2,250, and contracted to sell it to William Wiley at that price, payments to be made at the ■ rate of $20 per month, payable quarterly, with interest at 8 per cent., and that this price…
2Cases cited4 opinions
- Smith v. KaufmanSupreme Court of Arkansas · 1920
- Ellenbogen v. GriffeySupreme Court of Arkansas · 1892
- Blake Bros. v. Askew & BrummettSupreme Court of Arkansas · 1914
- Jones v. School District No. 48Supreme Court of Arkansas · 1919
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- Home Building & Savings Ass'n v. ShotwellSupreme Court of Arkansas · 1931
- Hethcox v. StewartSupreme Court of Arkansas · 1928