Union Savings Building & Loan Ass'n v. Henderson

Appellant is a building and loan association organized and operating under the laws of this State. Appellees applied to the association on October 30, 1929, for a loan of $7,000, which was consummated on December 2, 1929, in accordance with the plan under which appellant and other similar associations operated. Under this plan appellees gave appellant a mortgage on certain real estate in the city of Rogers securing a note for the $7,000 borrowed, due forty-four months after date, and bearing interest until maturity at nine per cent., and after maturity at ten per cent, until paid. At the same…