Hogan v. Hensley
Supreme Court of Arkansas
Error to the Circuit Court of Searcy County. Hon. William 0. Bevens, Circuit Judge. Interest at 10 per cent, per^annum may be legally contracted for, and making it payable semi-annually in advance does not render the contract void for usury. Agricultural Bank vs. Bis-sell, 12 Pick. 586; 6 Wend. 652 ; 3 Peters 40 ; 9 Wheat. 581 ; Wend. 408; 8 Cow. 664-70.
1Opinion of the CourtJustice Compton
On the trial of this case in the court below — it being an appeal from the decision of a justice of the peace to the Circuit Court — the appellant offered in evidence the writing obligator! sued on, which was payable to him in his official capacity as Internal Improvement Commissioner, for one hundred dollars, “with ten per cent, interest per annum semi-annually in advance from date till paid;” but the court excluded the evidence, upon the ground that the writing obligatory was usurious and void. Yerdict and judgment followed for the. defendant, and a new-trial being denied the plaintiff, he…
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