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UNIVERSAL C.I.T. CREDIT CORPORATION v. LACKEY

No. 5-1317.

305 S.W.2d 858 (1957)

UNIVERSAL C. I. T. CREDIT CORPORATION, Appellant, v. Joe LACKEY, Appellee.

Supreme Court of Arkansas.

October 21, 1957.

Attorney(s) appearing for the Case

Wright, Harrison, Lindsey & Upton, Little Rock, Norton & Norton, Forrest City, for appellant.

Giles Dearing, Wynne, for appellee.

McFADDIN, Justice.

This is another case involving the claim of usury1 in a conditional sales contract. The Chancery Court found that the contract was usurious, and this appeal ensued.

On November 19, 1953 appellee Lackey purchased a new 1954 Chrysler automobile from Bragg Auto Company of West Memphis by trading in an old car and executing a conditional sales contract for the balance due, plus insurance and interest. Here is a tabulation...

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