May v. Flint
Supreme Court of Arkansas
APPEAL from Johnson Circuit Court in chancery. George S. Cunningham, Judge. Suit to cancel an alleged usurious mortgage of land and a trustee’s deed executed thereunder. Thomason executed the mortgage to Charles L. Flint, as trustee for the New England Mortgage Security Company. Upon Flint’s resignation J. H. Basham was substituted as trustee. At a sale under the power in the mortgage Sherwood became purchaser of the land.
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APPEAL from Johnson Circuit Court in chancery. George S. Cunningham, Judge. Suit to cancel an alleged usurious mortgage of land and a trustee’s deed executed thereunder. Thomason executed the mortgage to Charles L. Flint, as trustee for the New England Mortgage Security Company. Upon Flint’s resignation J. H. Basham was substituted as trustee. At a sale under the power in the mortgage Sherwood became purchaser of the land. May, a judgment creditor of Thomason, brought this suit. The facts are stated in the opinion. There was a decree for the defendants, from which plaintiff appealed. i.. This…
1Opinion of the CourtHemingway, J.
Usury — Bro’ker’s cotnmis•sion. The appellant relies upon a plea of usury to defeat a mortgage. It is not claimed that the lender directly received or contracted to receive excessive interest'; but a commission was received by an intermediary, and this, it is contended, made the loan usurious. The question then is, Was the commission paid a part of the interest? To affect a loan with usury on account of a commission paid to an intermediary, it must appear that he was the agent of the lender and took the commission under authority express or implied from his principal. There is no proof of an…
2Cited by4 opinions
- McDougall v. HachmeisterSupreme Court of Arkansas · 1931
- Habach v. JohnsonSupreme Court of Arkansas · 1918
- Ammons v. Brunswick-Balke Collender Co.Court Of Appeals Of Indian Territory · 1904
- Sherwood v. WilkinsSupreme Court of Arkansas · 1898