Walter v. Adams
Supreme Court of Arkansas
Appeal from Jefferson Chancery Court; John M. Elliott, Chancellor; • The deed though absolute was intended only as a mortgage and the debt secured was usurious and void and appellant is entitled to recover back all he had paid under the void contract. 117 Ark. 304; 106 Id. 166; 1 Jones on Mort., § 257; 128 Ark. 67. The intention of the lender of money is determined from his acts.
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Appeal from Jefferson Chancery Court; John M. Elliott, Chancellor; • The deed though absolute was intended only as a mortgage and the debt secured was usurious and void and appellant is entitled to recover back all he had paid under the void contract. 117 Ark. 304; 106 Id. 166; 1 Jones on Mort., § 257; 128 Ark. 67. The intention of the lender of money is determined from his acts. The facts show usury clearly. 62 Ark. 370; 41 Id. 341; 132 Id. 377. The form of the contract is not material if all the facts and circumstances show usury. 132 Id. 377. Appellee was only entitled to interest on $135,…
1Opinion of the CourtSmith, J.
The appellant instituted this' action in the Jefferson Chancery Court for the purpose of having a deed executed by him to the appellee on the 5th day of June', 1915, declared a mortgage and canceled as being a conveyance securing a usurious debt. It was alleged that on June 5, 1915, appellee loaned appellant $135 for a period of one year and as security therefor took a deed, which was represented to be a trust deed, conveying two lots owned by appellant. The consideration was recited in the deed to be $190. Appellee answered that the deed evidenced the contract made between the parties but…
2Cases cited12 opinions
- First National Bank v. WaddellSupreme Court of Arkansas · 1905
- Sturdivant v. McCorleySupreme Court of Arkansas · 1907
- Grider v. DriverSupreme Court of Arkansas · 1885
- Humphrey v. McCauleySupreme Court of Arkansas · 1891
- Johnson v. HullSupreme Court of Arkansas · 1893
7 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Hughes v. HoldenSupreme Court of Arkansas · 1958
- Stinson v. BisbeeIdaho Supreme Court · 1934
- Hughes v. HoldenSupreme Court of Arkansas · 1958