SEWARD v. MID-STATE HOMES, INC.

No. 5-3298.

379 S.W.2d 271 (1964)

Lavern SEWARD et al. Appellants, v. MID-STATE HOMES, INC, Appellee.

Supreme Court of Arkansas.

June 1, 1964.


Attorney(s) appearing for the Case

George P. Eldridge, Augusta, for appellants.

Spencer & Spencer, El Dorado, for appellee.


GEORGE ROSE SMITH, Justice.

This is a foreclosure suit brought by the appellee upon a promissory note secured by a real estate mortgage. The defendants, Lavern Seward and his mother, interposed a plea of usury. The chancellor rejected this plea, finding that there had been a mutual mistake in the preparation of an allied construction contract and that the transaction was in fact free from usury.

On August 1, 1961, the appellee's assignor, Jim Walter Corporation...

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