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ACLIN FORD CO. v. CORDELL

No. 81-153.

625 S.W.2d 459 (1981)

ACLIN FORD COMPANY, et al., Appellants, v. William G. CORDELL and Marlene Cordell, Appellees.

Supreme Court of Arkansas.

Rehearing Denied January 11, 1982.

Attorney(s) appearing for the Case

Rice, Batton & Pierce, P.A. by Ben Rice, Jacksonville, Smith & Nixon, by W. R. Nixon, Jr., and John B. Plegge, Little Rock, for appellants.

Barber, McCaskill, Amsler, Jones & Hale by Guy Amsler, Jr., Little Rock, amicus curiae for Arkansas Auto. Dealers.

Lesly W. Mattingly, Jacksonville, for appellees.

GEORGE ROSE SMITH, Justice.

In February, 1980, the appellees, Mr. and Mrs. Cordell, bought a new car from Aclin Ford Company, the unpaid balance of the purchase price being payable in 48 monthly installments of $175 each. Aclin assigned the purchase contract to Ford Motor Credit Company. The Cordells brought this suit five months later to cancel the sale for usury. The chancellor canceled the contract, finding that the Cordells had been compelled to purchase credit...

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