Public Loan Corp. v. Stanberry

Ed. F. McFaddin, Justice.

This is a suit instituted by appellees (Stanberry and wife) to cancel — on the grounds of usury — a note and mortgage they executed to appellant, Public Loan Corporation. The complaint filed January 21, 1953, alleged:

“Plaintiffs further state that on the 26th day of June, 1952, the plaintiffs negotiated for and received a loan from the defendant corporation in the principal sum of $300.00 evidenced by a promissory note of that date which they executed in favor of said defendant, together with a chattel mortgage on their household furniture, and that the defendant…