Legal Opinion
Fausett & Co. v. G & P Real Estate, Inc.
Supreme Court of Arkansas
Decided July 7, 1980No. 80-21PublishedCited by 3 opinions
1Opinion of the Court
John I. Purtle, Justice.
Appellee sued on the grounds of usury to cancel two construction loans which had been arranged by appellant on two building lots in Pulaski County. The trial court upheld appellee’s contention and voided both debts. We agree with the trial court that the loans were usurious because a rate in excess of 10% per annum was charged by appellant.
On appeal it is argued that appellee did not prove usury and that appellant was a broker rather than a lender.
G & P Real Estate, Inc., appellee, arranged for loans in the amount of $41,600 for construction on lot number 250 and…
2Cases cited7 opinions
- Hayes v. First National Bank of MemphisSupreme Court of Arkansas · 1974
- Strickler v. State Auto Finance Co.Supreme Court of Arkansas · 1952
- Davidson v. Commercial Credit Equipment Corp.Supreme Court of Arkansas · 1973
- Bank of Newport v. CookSupreme Court of Arkansas · 1895
- Peoples Loan and Investment Company v. BoothSupreme Court of Arkansas · 1968
2 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Federal Land Bank of St. Louis v. WilsonDistrict Court, E.D. Arkansas · 1982
- Brookshire v. CoffmanSupreme Court of Arkansas · 1985
- Fausett & Co. v. G & P Real Estate, Inc.Supreme Court of Arkansas · 1980