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

No. 19948.

431 F.2d 238 (1970)

R. A. BROOKS, Appellant, v. UNIVERSAL C. I. T. CREDIT CORPORATION and Phil Phelps Truck Center, Inc., Appellees.

United States Court of Appeals, Eighth Circuit.

August 21, 1970.

Attorney(s) appearing for the Case

Pat Moran, Pope, Pratt, Shamburger, Buffalo & Ross, Little Rock, Ark., for appellant.

Philip S. Anderson, Little Rock, Ark., for appellees; James McHaney, Little Rock, Ark., on the brief.

Before JOHNSON, Senior Circuit Judge, and VAN OOSTERHOUT and HEANEY, Circuit Judges.

VAN OOSTERHOUT, Circuit Judge.

The issue presented by this appeal is whether a security agreement entered into between plaintiff Brooks as purchaser of a White Freightliner tractor-truck and the seller, defendant Phil Phelps Truck Center, Inc. (Phelps), is void as usurious. The resolution of this issue turns on whether Arkansas or Missouri law applies. It is stipulated that the contract is void as usurious under Arkansas law and that it is valid and enforceable under...

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