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STANDARD LEASING CORP. v. SCHMIDT AVIATION, INC.

No. 78-197.

576 S.W.2d 181 (1979)

STANDARD LEASING CORPORATION, Appellant, v. SCHMIDT AVIATION, INC., et al., Appellees.

Supreme Court of Arkansas, In Banc.

January 22, 1979.

Attorney(s) appearing for the Case

Proctor & Proctor by Richard L. Proctor, Wynne, for appellant.

Donald F. Seay, Jonesboro, for appellees.

GEORGE ROSE SMITH, Justice.

This case is similar to Bell v. Itek Leasing Corporation, 262 Ark. 22, 555 S.W.2d 1 (1977), where we held, in a chancery case, that an instrument which purported to be a lease of printing equipment was in fact a financing transaction that was void for usury. In the present case the circuit judge, sitting as a jury, found as a fact that the "lease" sued upon in this case is usurious and void. Several...

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