MURDOCK ACCEPTANCE CORP. v. HIGGINS

No. 5-76.

258 S.W.2d 558 (1953)

MURDOCK ACCEPTANCE CORP. et al. v. HIGGINS.

Supreme Court of Arkansas.

Rehearing Denied June 22, 1953.


Attorney(s) appearing for the Case

Lowell W. Taylor, Memphis, Tenn, Owens, Ehrman & McHaney, Little Rock, for appellants.

Carl Langston and Wayne Foster, Little Rock, for appellee.


GRIFFIN SMITH, Chief Justice.

The Chancellor found that usury was involved when G. C. Ring and Lester Stewart, doing business as Ring & Stewart Motor Co, sold a used automobile to Frances Higgins. She received $140 as credit for an old car she had purchased for the same amount. A check for $160 was given to increase the down payment to $300, leaving $855 to be paid in fifteen monthly installments of $57. No interest is indicated and the contract (executed on a...

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