Lowe v. Walker
Supreme Court of Arkansas
Appeal from Phillips Chancery Court; Jacob Fink, Special Chancellor; STATEMENT by the court. Appellant, W. H. Lowe, brought this suit in equity to cancel, on account of alleged usury in the contract, a certain mortgáge or deed of trust on lands executed by himself and wife, Roxie, to secure a note to Mrs. Jennie F. Rice, which had been assigned to appellee, George Walker. -Mrs. Rice, Walker and the trustee in the deed were all made parties defendant, and answered separately.
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Appeal from Phillips Chancery Court; Jacob Fink, Special Chancellor; STATEMENT by the court. Appellant, W. H. Lowe, brought this suit in equity to cancel, on account of alleged usury in the contract, a certain mortgáge or deed of trust on lands executed by himself and wife, Roxie, to secure a note to Mrs. Jennie F. Rice, which had been assigned to appellee, George Walker. -Mrs. Rice, Walker and the trustee in the deed were all made parties defendant, and answered separately. Mrs. Rice answered, denying that there was any usury in the contract and alleging that she had assigned the note and…
1Opinion of the Court
McCulloch, J.,
(after stating the facts.) There can be no doubt that the chancellor was right in rendering a personal decree against appellant W. H. Lowe for the amount of appellee’s claim. According to his own testimony, appellee advanced him the money as an independent loan to pay off the mortgage debt to Mrs. Rice. Appellee was not affected by usury in the contract between Lowe and Mrs. Rice. Conceding that the debt was tainted with usury, Lowe elected to pay it, and procured its payment by appellee. He cannot defeat his liability to appellee for the money because the original debt to Mrs.…
2Cases cited6 opinions
- German Bank v. DeShonSupreme Court of Arkansas · 1883
- Fletcher v. Bank of LonokeSupreme Court of Arkansas · 1902
- Martin v. SchichtlSupreme Court of Arkansas · 1895
- Richardson & May v. HamlettSupreme Court of Arkansas · 1878
- Beck v. BridgmanSupreme Court of Arkansas · 1883
1 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Burt v. HendersonSupreme Court of Arkansas · 1922
- Firestone Tire & Rubber Co. v. LittleCourt of Appeals of Arkansas · 1980
- Blake Bros. v. Askew & BrummettSupreme Court of Arkansas · 1914
- Carter v. ZacharySupreme Court of Arkansas · 1967
- Stiewel v. Webb Press Co.Supreme Court of Arkansas · 1906
5 more not listed; retrieve them via the Exa API.