GUARANTY FINANCIAL CORPORATION v. HARDEN

No. 5-4230.

416 S.W.2d 287 (1967)

242 Ark. 779

GUARANTY FINANCIAL CORPORATION et al., Appellants, v. James HARDEN et ux., Appellees.

Supreme Court of Arkansas.

Rehearing Denied July 26, 1967.


Attorney(s) appearing for the Case

Griffin Smith, Little Rock, for appellants.

Brockman & Brockman, Pine Bluff, for appellees.


GEORGE ROSE SMITH, Justice.

This is a suit by the appellants, Guaranty Financial Corporation and its wholly owned subsidiary, Joe-Lee Homes, Inc., to foreclose a mortgage securing a promissory note payable in 144 equal monthly installments of $75.01. The note makes no distinction between principal and interest, merely reciting the total obligation of $10,801.44 (144 × $75.01). The single question is whether the inclusion of an acceleration clause in the note...

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