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BELL v. ITEK LEASING CORP.

No. 77-84.

555 S.W.2d 1 (1977)

Jerry Mike BELL, Appellant, v. ITEK LEASING CORPORATION, Appellee.

Supreme Court of Arkansas, In Banc.

Supplemental Opinion On Denial of Rehearing September 19, 1977.

Attorney(s) appearing for the Case

Robert S. Blatt, Fort Smith, for appellant.

Bruce H. Bethell of Bethell, Callaway & Robertson, Fort Smith, for appellee.

GEORGE ROSE SMITH, Justice.

In this case, essentially one of first impression in Arkansas, the single issue is whether a contract by which Itek Leasing Corporation purported to lease certain printing equipment to Jerry Mike Bell for a term of five years was in actuality an installment-sale contract carrying such an excessive interest rate as to be void for usury under Arkansas law. We are unanimously of the opinion, contrary to the trial court's conclusion, that the...

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