UNITED-BILT HOMES, INC. v. TEAGUE

No. 5-4318.

432 S.W.2d 1 (1968)

UNITED-BILT HOMES, INC., Appellant, v. Donald L. TEAGUE et ux., Appellees.

Supreme Court of Arkansas.

Rehearing Denied October 28, 1968.


Attorney(s) appearing for the Case

James R. Hale, Fayetteville; John L. Wilson, Hope; and S. Hubert Mayes, Jr., Little Rock, for appellant.

Walter R. Niblock and William R. Hass, Fayetteville, for appellees.


GEORGE ROSE SMITH, Justice.

This is a usury case. On November 9, 1962, United-Bilt Homes, Inc., agreed to build and to finance a house for the plaintiffs, Teague and his wife. The basic cash price, after a $10 down payment, was $2,450, but that figure was not set forth in the building contract or in the note or in the mortgage, all executed on November 9. Instead, all three instruments simply recited the Teagues' obligation to make 90 monthly payments of $43.07 each...

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