Henslee v. Madison Guaranty Savings & Loan Ass'n

760 S.W.2d 842 (1989)

297 Ark. 183

William E. HENSLEE, Katherine L. Henslee, Stephen A. Wilson, Lynn R. Wilson, and Lois M. Napper, Appellants,

v.

MADISON GUARANTY SAVINGS AND LOAN ASSOCIATION, Appellee.

No. 88-45.

Supreme Court of Arkansas.

January 9, 1989.[*]

Robert J. Brown, Steven Napper, Little Rock, for appellants.

Phillip Cuffman, Little Rock, for appellee.

SUBSTITUTED OPINION

HOLT, Chief Justice.

This appeal involves two issues: (1) whether under the facts of this case a one percent (1%) commitment fee constituted interest which, when added to the interest on a particular loan, tainted the…