Winston v. Personal Finance Co. of Pine Bluff, Inc.

Ed. P. McPaddin, Justice.

This case presents the issue of usury in a transaction based entirely on a loan of money, and without any element of a credit price connected with a sale.

Appellant, Winston (sometimes hereinafter called "borrower”); is an individual who lives several miles from Pine Bluff. Appellee, Personal Finance Company (sometimes hereinafter called "Personal” or "lender”), is a corporation registered and licensed by the State Bank Commission, under Act 203 of 1951, which Act is officially called the "Arkansas Installment Loan Law,” but in common parlance is referred to as the…