Sidway v. Harris
Supreme Court of Arkansas
Appeal from Baxter Circuit Court in Chancery. John B. McCaleb, Judge. L. B. Sid way and the American Mortgage Company of Scotland (Limited) brought suit against John W Harris and wife to foreclose a deed of trust executed by him to Sidway as trustee for the company. The facts are stated in the opinion.
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Appeal from Baxter Circuit Court in Chancery. John B. McCaleb, Judge. L. B. Sid way and the American Mortgage Company of Scotland (Limited) brought suit against John W Harris and wife to foreclose a deed of trust executed by him to Sidway as trustee for the company. The facts are stated in the opinion. The burden of proving usury is on him who alleges it. 109 N. Y. 477; 57 Ark. 256. When an agent receives a bonus, which, added to the interest exacted by the lender, exceeds ten per cent, per annum, but without the knowledge of the lender and without circumstances from which such knowledge…
1Opinion of the CourtBunn, C. J.
This is a suit to foreclose a deed of trust given on land to secure a note for $850,both dated January 9, 1887, bearing interest at the rate of eight and a half per centum per annum, payable annually on the 1st day of January of each year, and the principal due January 1, 1894. The interest, up to the maturity of the principal note, was evidenced by coupon notes, each for $72.25, and payable at the end of each year, as stated. The whole after the maturity of the principal to bear ten per cent, per annum interest until paid. On default of the payment of any one of them, the whole debt might be…
2Cited by8 opinions
- Winston v. Personal Finance Co. of Pine Bluff, Inc.Supreme Court of Arkansas · 1952
- Winkle v. Grand National BankSupreme Court of Arkansas · 1980
- First Nat. Bank of Ada v. PharesSupreme Court of Oklahoma · 1918
- Gault v. ThurmondSupreme Court of Oklahoma · 1913
- United-Bilt Homes, Inc. v. TeagueSupreme Court of Arkansas · 1968
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