Scruggs v. Scottish Mortgage Co.
Supreme Court of Arkansas
APPEAL from Lee Circuit Court in chancery. Matthew T. Sanders, Judge. 1. The proof shows that Granger was the general agent of Smith & Co. in procuring loans, and that such general agency affects the mortgage company because Smith & Co. are confessedly the general agents of the mortgage company. 33 Ark., 251; 25 Am.
Read the full summary
APPEAL from Lee Circuit Court in chancery. Matthew T. Sanders, Judge. 1. The proof shows that Granger was the general agent of Smith & Co. in procuring loans, and that such general agency affects the mortgage company because Smith & Co. are confessedly the general agents of the mortgage company. 33 Ark., 251; 25 Am. Rep., 487; 29 id., 69; 32 Fed'. Rep., 113; 23 id., 636; 1 N. W. Rep., 197; 9 id., 650 10 id., 916;'15 id., 214; 16 id., 841; 29 id., 154; 21 id,,. 698; 18 id., 76; Tyler on Usury, 274-363; 51 Ark., 534; ib., 546. 2. The mortgages are void on their face by reason of the usurious…
1Opinion of the CourtHemingway, J.
This is a suit brought by the appellant Scruggs to cancel his certain notes and mortgages, and to enjoin a sale of his land about to be made under the powers in said mortgages; one of the mortgages was executed by him to the Scottish-American Mortgage Company to secure a loan from it, and the other to Francis Smith & Co. to secure an indebtedness to them. The claim for relief was rested upon a charge of usury in the debts secured. The mortgagees answered separately, denying the charge of usury, and by cross-complaints sought the foreclosure of their several mortgages. At the final hearing,…
2Cases cited3 opinions
- Call v. PalmerSupreme Court of the United States · 1885
- Baldwin v. . DoyingNew York Court of Appeals · 1889
- Brigham v. MyersSupreme Court of Iowa · 1879
3Cited by20 opinions
- Briggs v. SteeleSupreme Court of Arkansas · 1909
- National Surety Corporation v. Inland Properties, Inc.District Court, E.D. Arkansas · 1968
- Eldred v. HartSupreme Court of Arkansas · 1908
- Citizens' Bank v. MurphySupreme Court of Arkansas · 1907
- Jones v. PhillippeSupreme Court of Arkansas · 1918
15 more not listed; retrieve them via the Exa API.