PUBLIC LOAN CORPORATION v. STANBERRY

No. 5-476.

272 S.W.2d 694 (1954)

PUBLIC LOAN CORPORATION, Appellants, v. Leonard STANBERRY et al. Appellees.

Supreme Court of Arkansas.

November 22, 1954.


Attorney(s) appearing for the Case

Wade & McAllister, Fayetteville, for appellants.

Peter G. Estes, Fayetteville, for appellees.


McFADDIN, Justice.

This is a suit instituted by appellees (Stanberry and wife) to cancel—on the grounds of usury—a note and mortgage they executed to appellant, Public Loan Corporation. The complaint filed January 21, 1953, alleged:

"Plaintiffs further state that on the 26th day of June, 1952, the plaintiffs negotiated for and received a loan from the defendant corporation in the principal sum of $300.00 evidenced by a promissory note of that...

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