Looper v. Madison Guaranty Savings & Loan Ass'n

Darrell Hickman, Justice.

In a foreclosure proceeding, the chancellor refused to confirm the sale of a residence. The reasons given were because the purchase price shocked her conscience and other circumstances existed which justified the refusal. The question presented involves the law concerning the confirmation of judicial sales when an inadequate price is paid.

The appellants argue there is no Arkansas case holding that a sale can be set aside simply because the sale price is inadequate. Conceding that we have said a sale may be set aside because it “shocks the conscience of the court,” the…