PACIFIC FINANCE CORP. v. SLAYTON

No. 5-204.

262 S.W.2d 452 (1953)

PACIFIC FINANCE CORP. v. SLAYTON.

Supreme Court of Arkansas.

December 7, 1953.


Attorney(s) appearing for the Case

Bailey & Warren and Bruce T. Bullion, Little Rock, for appellant.

T. O. Abbott, El Dorado, for appellee.


GRIFFIN SMITH, Chief Justice.

The question is whether a contract for the loan of money, admittedly usurious, was discharged by action of the parties when a new obligation was incurred by the borrower in circumstances claimed by the lender to have been wholly independent of the outstanding debt. The second note does not show upon its face (nor is such fact reflected by the contract) that the vice now complained of was brought forward.

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