Sparks v. Robinson
Supreme Court of Arkansas
Appeal from Pulaski Circuit Court. Joseph W. Martin, Judge. STATEMENT BY THE COURT. Appellee received of appellant the sum of $8, and turned over to him a sewing machine valued at $45. Appellee claims that she let appellant have the machine as security for the sum of $8 borrowed of appellant. Appellant contends that he bought the machine of appellee.
Read the full summary
Appeal from Pulaski Circuit Court. Joseph W. Martin, Judge. STATEMENT BY THE COURT. Appellee received of appellant the sum of $8, and turned over to him a sewing machine valued at $45. Appellee claims that she let appellant have the machine as security for the sum of $8 borrowed of appellant. Appellant contends that he bought the machine of appellee. At the time of the transaction the following instrument was signed by appellant and appellee: “No. 1865. Price, $8.00. “Absolute Bill of Sale to Capital Loan Office, 105 East Markham st., Little Rock, November 16, 1895. “Sold with the right of…
1Opinion of the Court
Wood, J.,
(after stating the facts.) There was evidence to support the finding that the transaction reflected by the above facts was a loan of money at the rate of ten per cent, per month, and that it was usurious and void.
The court was clearly justified in concluding that the instrument purporting to be a bill of sale, although absolute on its face, was intended by the parties as nothing more than a security for the money advanced. The right of redemption was reserved to the grantor in the face of the instrument, and the extraneous proof warranted the conclusion that the instrument was…
2Cases cited1 opinion
- Stryker v. HershySupreme Court of Arkansas · 1881
3Cited by18 opinions
- McElroy v. GrishamSupreme Court of Arkansas · 1991
- Winston v. Personal Finance Co. of Pine Bluff, Inc.Supreme Court of Arkansas · 1952
- American Physicians Insurance Co. v. HruskaSupreme Court of Arkansas · 1968
- Carter v. Four Seasons Funding Corp.Supreme Court of Arkansas · 2003
- Standard Leasing Corp. v. Schmidt Aviation, Inc.Supreme Court of Arkansas · 1979
13 more not listed; retrieve them via the Exa API.